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.1961
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
CREDIT GUARANTEE FUNCTIONS
FUNDS, ACCOUNTS AND AUDIT
MISCELLANEOUS
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 companies11Registration of new banking companies11ARegistration of Regional Rural Banks12Registration of defunct banking companies13Cancellation of registration13ARegistration of co-operative banks13BRegistration of defunct co-operative banks13CCancellation of registration of co-operative banks13DCircumstances in which Reserve Bank may require winding up of co-operative banks14Intimation of registration15Premium15ACancellation of registration of an insured bank for non-payment of premium16Liability of Corporation in respect of insured deposits17Manner of payment by Corporation in case of winding up of insured banks18Manner of payment by corporation in case of scheme of compromise or arrangement or of reconstruction or amalgamation in respect of an insured bank19Discharge of the liability of Corporation20Provision for unpaid amounts21Repayment of the amount to corporationCREDIT GUARANTEE FUNCTIONS
FUNDS, ACCOUNTS AND AUDIT
22Funds of Corporation23Deposit Insurance Fund23ACredit Guarantee Fund24General Fund25Investment25AAmount in one fund may be transferred to the other fund or may be utilised for other purposes26Advances by Reserve Bank27Advances from General Fund to the Deposit Insurance Fund or Credit Guarantee Fund28Preparation of balance-sheet, etc., by corporation29Audit30Income-tax31Reserve Fund32Annual accounts and reportsMISCELLANEOUS
33Staff of Corporation34Returns from insured banks35Corporation to have access to records36Inspection of insured banks by Reserve Bank37Corporation to furnish information to Reserve Bank38Reserve Bank to furnish information to Corporation39Declaration of fidelity and secrecy40Indemnity of directors41Defects in appointment not to invalidate acts, etc42Protection of action taken under this act43Companies Act, 1956 and insurance act, 1938 not to apply44Liquidation of Corporation45Power of Central Government to give directions46Dispute as to amount of premium47Penalties48Offences by companies49Cognizance and trial of offences50Regulation51Repealed