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Latest Articles in DICGC

PMC Bank Customers To Not Get Rs 5 Lakh Deposit Cover In First Lot, Says RBI

The RBI had superseded the board of PMC Bank and placed it under various regulatory restrictions after detection of certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.

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Parliament Passes DICGC Amendment Bill

The Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 was passed by a voice vote amid an uproar by Opposition parties over various issues, including the Pegasus snooping row and farm laws.

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Rajya Sabha Passes DICGC Amendment Bill

Replying to a brief debate on the DICGC (Amendment) Bill, 2021, Finance Minister Nirmala Sitharaman said the legislation will benefit the small depositors, including those of the PMC Bank.

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Rajya Sabha Passes Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill

The Bill proposes that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors can access their deposits to the extent of the deposit insurance cover through interim payments by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

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RS Passes Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill

The bill also seeks to amend Section 15 of the DICGC Act to enable the Corporation to increase the ceiling on the amount of premium, with the prior approval of the Reserve Bank of India (RBI).

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Govt Introduces Deposit Insurance And Credit Guarantee Corporation (Amendment) Bill In Rajya Sabha

The Bill has proposed that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors can access their deposits to the extent of the deposit insurance cover through interim payments by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

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RBI Cancels Licence Of Madgaum Urban Co-Operative Bank Ltd, Margao

The Office of Registrar of Cooperative Societies, Goa, has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank

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RBI Cancels Licence Of Pune-Based Shivajirao Bhosale Sahakari Bank

The RBI said the bank does not have adequate capital and earning prospects and as such, it does not comply with the certain provisions of the Banking Regulation Act, 1949.

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RBI Cancels Licence Of Bhagyodaya Friends Urban Co-Operative Bank

The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been asked to issue an order for winding up the bank and appoint a liquidator for the bank.

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RBI Puts Rs 1,000 Withdrawal Cap On Deccan Urban Co-Op Bank; Fresh Loans, Deposits Restricted

It has also asked the lender to desist from disbursing any payment whether in discharge of its liabilities or otherwise, or dispose of any of its assets except as notified in the RBI direction.

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