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Deposit insurance cover provided by DICGC is calculated on which basis?

easy Q12 of 15
Banking Awareness - Banking Acts, Reforms & Risk Management
Deposit insurance cover provided by DICGC is calculated on which basis?
APer branch of a bank
BPer depositor per bank
CPer account held by a depositor
DPer financial year
Step-by-Step Solution

  1. Step 1: Recall the coverage rule

    DICGC coverage is linked to the depositor and the bank.

  2. Step 2: Eliminate incorrect bases

    Coverage is not account-wise, branch-wise, or year-wise.

  3. Final Answer:

    Per depositor per bank → Option B

  4. Quick Check:

    Multiple accounts in one bank = single combined cover ✅
Quick Trick: Remember: person + bank = one insurance limit.
Common Mistakes:
MISTAKES
  • Thinking each account gets separate insurance cover.
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