The Deposit Insurance and Credit Guarantee Corporation Act `1961
An Act to provide for the establishment of a corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.
List of Chapters & Sections
PRELIMINARY
ESTABLISHMENT AND MANGEMENT OF THE DEPOSIT INSURANCE CORPORATION
REGISTRATION OF BANKING COMPANIES AND CO-OPERATIVE BANKS AS INSURED BANKS AND LIABILITY OF CORPORATION TO DEPOITORS
- 10Registration of existing banking companies
- 11Registration of new banking companies
- 11ARegistration of Regional Rural Banks
- 12Registration of defunct banking companies
- 13Cancellation of registration
- 13ARegistration of co-operative banks
- 13BRegistration of defunct co-operative banks
- 13CCancellation of registration of co-operative banks
- 13DCircumstances in which Reserve Bank may require winding up of co-operative banks
- 14Intimation of registration
- 15Premium
- 15ACancellation of registration of an insured bank for non-payment of premium
- 16Liability of Corporation in respect of insured deposits
- 17Manner of payment by Corporation in case of winding up of insured banks
- 18Manner of payment by corporation in case of scheme of compromise or arrangement or of reconstruction or amalgamation in respect of an insured bank
- 19Discharge of the liability of Corporation
- 20Provision for unpaid amounts
- 21Repayment of the amount to corporation
CREDIT GUARANTEE FUNCTIONS
FUNDS, ACCOUNTS AND AUDIT
- 22Funds of Corporation
- 23Deposit Insurance Fund
- 23ACredit Guarantee Fund
- 24General Fund
- 25Investment
- 25AAmount in one fund may be transferred to the other fund or may be utilised for other purposes
- 26Advances by Reserve Bank
- 27Advances from General Fund to the Deposit Insurance Fund or Credit Guarantee Fund
- 28Preparation of balance-sheet, etc., by corporation
- 29Audit
- 30Income-tax
- 31Reserve Fund
- 32Annual accounts and reports
MISCELLANEOUS
- 33Staff of Corporation
- 34Returns from insured banks
- 35Corporation to have access to records
- 36Inspection of insured banks by Reserve Bank
- 37Corporation to furnish information to Reserve Bank
- 38Reserve Bank to furnish information to Corporation
- 39Declaration of fidelity and secrecy
- 40Indemnity of directors
- 41Defects in appointment not to invalidate acts, etc
- 42Protection of action taken under this act
- 43Companies Act, 1956 and insurance act, 1938 not to apply
- 44Liquidation of Corporation
- 45Power of Central Government to give directions
- 46Dispute as to amount of premium
- 47Penalties
- 48Offences by companies
- 49Cognizance and trial of offences
- 50Regulation
- 51Repealed