What is DICGC (Deposit Insurance)? — Meaning, Definition & Example
Definition
DICGC (Deposit Insurance and Credit Guarantee Corporation) insures bank deposits up to ₹5 lakh per depositor per bank, covering savings, current, FD, and RD accounts. If a bank fails, DICGC pays the insured amount. This is why diversifying across banks matters for large deposits.
If you have ₹10 lakh in one bank and it fails, DICGC covers only ₹5 lakh. Solution: split across 2 banks — both deposits are fully insured.
🇮🇳 DICGC (Deposit Insurance) in Hindi / हिंदी में
DICGC (जमा बीमा) — DICGC प्रति जमाकर्ता प्रति बैंक ₹5 लाख तक के बैंक जमा का बीमा करता है। बैंक विफल होने पर DICGC बीमित राशि का भुगतान करता है।
DICGC (Deposit Insurance) (Hinglish) — DICGC har depositor ke per bank ₹5 lakh tak ke deposits insure karta hai. Bank fail hone pe DICGC insured amount pay karta hai. Isliye bade deposits alag banks mein rakho.