Q. All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC. What is the full form of DICGC?
Answer: Deposit Insurance And Credit Guarantee Corporation
Notes: Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of Reserve Bank of India. It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities.
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