RBI data on Deposit Insurance

Published on August 30, 2019
Current context: Latest RBI annual report data showed that Deposit insurance covers 92% of total accounts in India but constitutes only 28% of total banking deposits.
RBI data on Deposit Insurance 
  • The number of such accounts stood at 200 crores at the end of March 2019, which is 92% of the total number of accounts, whereas the international benchmark is 80%.
  • The Deposit Insurance and Credit Guarantee Corporation (DICGC) has the task of providing insurance cover to deposits in all commercial banks.
  • At the end of FY19, the number of insured banks registered in DICGC was 2,098, commercial banks were 157 and cooperative banks was 1941.
  • Thus at the end-March 2019, the total insured deposit was of Rs 33.7 lakh crore constituting 28% of assessable deposits of Rs 120 lakh crore, against the international benchmark of 20% to 30%.

Question: 

Q.1 As per RBI, what percentage of total accounts were covered by Deposit insurance by end-March 2019?
a. 26%
b. 36%
c. 92%
d. 88%

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students prepaing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu