Deposit Insurance and Credit Guarantee Corporation (DICGC) Bill 2021

On 30th July, 2021, the government introduced the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill in the Rajya Sabha, which aims to provide timely support to depositors of stressed banks.

  • The Bill seeks to amend the Deposit Insurance and Credit Guarantee Corporation Act, 1961.

Need

  • There’s a long journey between the first signs of financial trouble and the process of liquidation.
  • Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank too came under stress, leading to restructuring by the RBI.
  • The RBI imposed restrictions to protect the bank from collapse and by extension, also protect depositors who will be ....
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