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Bare acts > Deposit Insurance and Credit Guarantee Corporation Act, 1961
 
 
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SECTIONS

Deposit Insurance and Credit Guarantee Corporation Act, 1961

As Amended upto date

   
  Preamble
   
  CHAPTER I : PRELIMINARY
1. Short title extent and commencement
2. Definitions
   
  CHAPTER II : ESTABLISHMENT AND MANAGEMENT OF THE DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION
3. Establishment and Incorporation of Deposit Insurance Corporation
4. Capital of Corporation
5. Management of Corporation
6. Board of Directors
7. Meetings of Board
8. Committees of Corporation
9. Fees and Allowances of Directors
   
  CHAPTER III : REGISTRATION OF BANKING COMPANIES AND CO-OPERATIVE BANKS AS INSURED BANKS AND LIABILITY OF CORPORATION TO DEPOSITORS
10. Registration of Existing Banking Companies
11. Registration of New Banking Companies
11-A. Registration of Regional Rural Banks
12. Registration of Defunct Banking Companies
13. Cancellation of Registration
13-A. Registration of Co-operative Banks
13-B. Registration of defunct Co-operative Banks
13-C. Cancellation of Registration of Co-operative Banks
13-D. Circumstances in which Reserve Bank may require winding up of Co-operative Banks
14. Intimation of Registration
15. Premium
15-A. Cancellation of registration of an insured bank for non-payment of premium
16. Liability of Corporation in respect of insured deposits
17. Manner of payment by Corporation in case of winding up of an insured bank
18. Manner of payment by Corporation in case of scheme of compromise or arrangement or of reconstruction or amalgamation in respect of an insured bank
19. Discharge of the liability of Corporation
20. Provision for unpaid amounts
21. Repayment of the amount to the Corporation
   
  CHAPTER III-A : CREDIT GUARANTEE FUNCTIONS
21-A. Guaranteeing of credit facilities and indemnifying credit institutions
21-B Corporation to act as agent of Central Government
22. Funds of Corporation
23. Deposit Insurance Fund
23-A. Credit Guarantee Fund
24. General Fund
25. Investment
25-A. Amount in one Fund may be transferred to the other Fund or may be utilised for other purposes
26. Advances by Reserve Bank
27. Advances from General Fund to Deposit Insurance Fund or Credit Guarantee Fund
28. Preparation of balance sheet, etc., by Corporation
29. Audit
30. Income-tax and Super-tax
31. Reserve Fund
32. Annual accounts and reports
   
  CHAPTER V : MISCELLANEOUS
33. Staff of Corporation
34. Returns from insured banks
35. Corporation to have access to records
36. Inspection of insured banks by Reserve Bank
37. Corporation to furnish information to Reserve Bank
38. Reserve Bank to furnish information to Corporation
39. Declaration of fidelity and secrecy
40. Indemnity of Directors
41. Defects in appointments not to invalidate acts, etc
42. Protection of action taken under this Act
43. Companies Act, 1956 and Insurance Act, 1938 not to apply
44. Liquidation of Corporation
45. Powers of Central Government to give directions
46. Dispute as to amount of premium
47. Penalties
48. Offences by companies
49. Cognizance and trial of offences
50. Regulations
51. Amendment of certain enactments
   
  FIRST SCHEDULE - DECLARATION OF FIDELITY AND SECRECY
  SECOND SCHEDULE - AMENDMENT OF CERTAIN ENACTMENTS
 
 
 

 

 

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