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    Deposit Insurance and Credit Guarantee Corporation

    Deposit Insurance and Credit Guarantee Corporation: insures bank deposits up to ₹5 lakh per depositor per bank.

    Facts last verified 29 September 2026 Updated
    On this page
    1. At a glance
    2. What it does
    3. How it works with banks
    4. Connections

    At a glance

    Wholly owned by RBI
    Short name
    DICGC
    Legal form
    Wholly owned subsidiary of RBI, established under the DICGC Act, 1961
    Headquarters
    Mumbai
    Established
    1978 Formed in 1978 by merging the Deposit Insurance Corporation (operating since 1 January 1962) with the Credit Guarantee Corporation of India.
    Employees
    No official figure found in the sources checked
    Official site
    www.dicgc.org.in
    Roles
    • Insures bank deposits up to ₹5 lakh per depositor per bank
    • Pays depositors when an insured bank fails or is placed under restrictions
    • Collects deposit insurance premiums from banks (risk-based from 2026)

    What it does

    The Deposit Insurance and Credit Guarantee Corporation protects depositors if a bank fails. DICGC insures deposits up to ₹5 lakh per depositor per bank, covering principal and interest.2Deposit Insurance and Credit Guarantee Corporation. A Guide to Deposit Insurance. As of 29 September 2026. DICGC is a wholly owned subsidiary of RBI, governed by the DICGC Act, 1961.1Deposit Insurance and Credit Guarantee Corporation. DICGC Information Leaflet. As of 29 September 2026. DICGC's head office is in Mumbai; deposit insurance in India began on 1 January 1962.3Deposit Insurance and Credit Guarantee Corporation. History of DICGC. As of 29 September 2026.

    How it works with banks

    Insured banks pay DICGCDeposit Insurance and Credit Guarantee Corporation. A wholly owned subsidiary of RBI that insures bank deposits, currently up to ₹5 lakh per depositor per bank. a premium on their assessable deposits. DICGC's risk-based premium framework, released on 6 February 2026, replaces the flat premium of 12 paise per ₹100 of assessable deposits.4ICRA. RBI's risk-based premium framework for deposit insurance to enhance profitability of stronger banks. As of 19 February 2026. For a bank’s technology teams, deposit insurance matters mainly through data: a bank must be able to produce accurate, depositor-level records quickly, so that claims can be paid if it is ever needed.

    Connections

    • RBI: RBI owns all of DICGC.1

    Sources

    1. DICGC Information Leaflet. Deposit Insurance and Credit Guarantee Corporation. Primary source, accessed 29 September 2026. Supports: DICGC is a wholly owned subsidiary of RBI, governed by the DICGC Act, 1961 (as of 29 September 2026).
    2. A Guide to Deposit Insurance. Deposit Insurance and Credit Guarantee Corporation. Primary source, accessed 29 September 2026. Supports: DICGC insures deposits up to ₹5 lakh per depositor per bank, covering principal and interest (as of 29 September 2026).
    3. History of DICGC. Deposit Insurance and Credit Guarantee Corporation. Primary source, accessed 29 September 2026. Supports: DICGC's head office is in Mumbai; deposit insurance in India began on 1 January 1962 (as of 29 September 2026).
    4. RBI's risk-based premium framework for deposit insurance to enhance profitability of stronger banks. ICRA. Analyst, accessed 29 September 2026. Supports: DICGC's risk-based premium framework, released on 6 February 2026, replaces the flat premium of 12 paise per ₹100 of assessable deposits (as of 19 February 2026).