INSURANCE COVER ON BANK DEPOSITS:
All deposits (SB/CA/RD/FDs) upto Rs.1.00 lakh in a commercial bank or co-operative bank in India are insured by the DICGCI. The insurance cover is extended by collecting premium from banks, at half yearly intervals at the rate of 10 paise per annum per Rs.100/- . Te coverage is free to the depositors. Rs 1.00 lakh is inclusive of interest also. Deposits in different banks are separately insured with each deposit eligible for Rs.1.00 lakh cover. The banks covered are all commercial banks including branches of foreign banks functioning in India, lcal area banks and RRBs. All co-operative banks other than those in states like Meghalaya, UT of Chandigarh, Lakhshadeep and Nagar Haveli are also covered. Primary co-operative societies are not covered under the scheme.
All deposits (SB/CA/RD/FDs) upto Rs.1.00 lakh in a commercial bank or co-operative bank in India are insured by the DICGCI. The insurance cover is extended by collecting premium from banks, at half yearly intervals at the rate of 10 paise per annum per Rs.100/- . Te coverage is free to the depositors. Rs 1.00 lakh is inclusive of interest also. Deposits in different banks are separately insured with each deposit eligible for Rs.1.00 lakh cover. The banks covered are all commercial banks including branches of foreign banks functioning in India, lcal area banks and RRBs. All co-operative banks other than those in states like Meghalaya, UT of Chandigarh, Lakhshadeep and Nagar Haveli are also covered. Primary co-operative societies are not covered under the scheme.
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