India, Jan. 30 -- In India, bank failures are rare. However, when any bank fails, it can impact many of its depositors. So, whenever there is news of a bank failure, many depositors of other banks also wonder about the safety of their deposits with their respective banks. It is here that DICGC comes in to protect bank depositors. In this article, we will understand who DICGC is, how it protects bank depositors, and to what extent.

The Deposit Insurance and Credit Guarantee Corporation (DICGC) is a corporation established under and governed by the provisions of 'The Deposit Insurance and Credit Guarantee Corporation Act, 1961'. The corporation has been established with the principal purpose of insuring bank deposits. It also guarantees cr...