state gov Kerala PSC Degree (Common Preliminary Examination) Mock Test Series 2025 General Knowledge Economy Money and Banking
Consider the following statements regarding the Deposit Insurance and Credit Guarantee Corporation (DICGC):
1. All commercial banks, including branches of foreign banks functioning in India, local area banks, and regional rural banks, are insured by the DICGC.
2. The DICGC insures all deposits such as savings, fixed and current deposits, including deposits of foreign Governments and Central/State Governments.
3. Currently, each depositor in a bank is insured up to a maximum of Rupees Five Lakhs for both principal and interest amount held by them.
How many of the above statements is/are correct?1
Only one
2
Only two
3
All three
4
None