1. I think very nicely explained with all the details. Very clearly spelt out all the nuances with example. So now the things are clear as to what constitutes DICGC and how secure we are as far as our deposits with banks are concerned..

  2. So in a nutshell, bank deposits are safe to the extent of INR one lakh per bank in any case. To say that no government would allow banks to fail – try explaining that to PMC account holders. My contract background trained me to believe in – “What has not been documented has never been said”….so the converse is also true, whatever is documented is said loud n clear!

    • Hmmm…yes, at the end banks are also corporate houses. It’s wise to believe “What has not been documented has never been said”, and in Bank’s case, the document says only 1 lakh is guaranteed.

  3. 🙂 banks are shady organizations in the first place. They follow murphy’s law to the hilt. Apologies for the negativity, but banks are just channels to cover rich man’s mistakes and greed at the expense of common man’s savings and regulators are hand-in-glove most of the time.


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