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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-4

  • question_answer
    In the event of the bank failure, an agency protects bank deposit that are payable. The agency that insures such deposits is _______

    A)  ECGC

    B)  DICGC

    C)  CGTMSE

    D)  CGF

    E)  CIBIL

    Correct Answer: B

    Solution :

     In the event of a bank failure, Deposit Insurance and Credit Guarantee Corporation (DICGC) protects bank deposits that are payable in India. It insures all deposits such as savings, fixed, current, recurring, etc. except the following types of deposits.
    Deposits of foreign Governments;
    Deposits of Central/State Governments;
    Inter "bank deposits;
    Deposits of the State Land Development Banks with the State co-operative bank;
    Any amount due on account of any deposit received outside India
    Any amount, which has been specifically exempted by the corporation with the previous approval of Reserve Bank of India.


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