**Policy Summary: Hike in Deposit Insurance Premium**
This notification, issued by the Deposit Insurance and Credit Guarantee Corporation (DICGC) on February 6, 2020, announces an increase in the deposit insurance premium rate. Effective April 1, 2020, insured banks are required to pay a premium of 12 paise per annum for every 100 of their deposits. This change is enacted under the powers conferred by Sub-Section 1 of Section 15 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, and has the prior approval of the Reserve Bank of India. The premium calculation and payment will adhere to Regulation 19 of the Deposit Insurance and Credit Guarantee Corporation Regulations, 1961. The notification number is DICGCRPIC267602.01.003201920. The Executive Director of DICGC is Malvika Sinha.
Key Entities Referenced
Deposit Insurance and Credit Guarantee Corporation: An organization responsible for providing deposit insurance and credit guarantee.
Deposit Insurance and Credit Guarantee Corporation Act, 1961: The legal act that establishes and governs the Deposit Insurance and Credit Guarantee Corporation.
Reserve Bank of India: The central bank of India, which approves the Deposit Insurance and Credit Guarantee Corporation's decisions.
Mumbai, Maharashtra: The city where the Deposit Insurance and Credit Guarantee Corporation notification was issued.
April 1, 2020: The effective date for the hike in deposit insurance premium.
Deposit Insurance and Credit Guarantee Corporation Regulations 1961: Regulations governing the Deposit Insurance and Credit Guarantee Corporation
MALVIKA SINHA: Executive Director of the Deposit Insurance and Credit Guarantee Corporation
New Delhi: Location of Government of India Press.
रजिस्ट्री स.ं डी.एल.-33004/99 REGD. NO. D. L.-33004/99
सी.जी.-एम.एच.-अ.-13022020-216118
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CG-MH-E-13022 020-216118
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असाधारण
EXTRAORDINARY
भाग III—खण्ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 50] नई कदल्ली, सोमवार, फरवरी 10, 2020/माघ 21, 1941
No. 50] NEW DELHI, MONDAY, FEBRUARY 10, 2020/MAGHA 21, 1941
जनक्षपे बीमा और प्रत्यय गारंटी जनगम
अजधसचू ना
म ंबई, 6 फरवरी, 2020
िमा बीमा प्रीजमयम म ेंवजृ ि
स.ंडीआईसीिीसी/आरपीआईसी/2676/02.01.003/2019-20.—जनक्षेप बीमा और प्रत्यय गारंटी
जनगम अजधजनयम, 1961 की धारा 15 की उप-धारा (1) द्वारा प्रदत्त िजियों का प्रयोग करते हुए, जनक्षेप बीमा और
प्रत्यय गारंटी जनगम, भारतीय ररिवव बैंक के पूवव अन मोदन से यह अजधसूजचत करता ह ै कक बीजमत बैंक जिस दर पर
जनगम को प्रीजमयम का भग तान करन े के जलए उत्तरदायी होगा, वह 1 अप्रलै , 2020 से अपनी िमा राजि के प्रत्येक
₹100 के जलए प्रजत वर्व 12 पैसे होगी, जिसकी गणना और भ गतान जनक्षेप बीमा और प्रत्यय गारंटी जनगम
जवजनयमन 1691के जवजनयम, 19 में जनधावररत तरीके से ककया िाएगा।
मालजवका जसन्हा, कायवपालक जनदेिक
[जवज्ञापन&III@4@असा-@440@19]
810 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION
NOTIFICATION
Mumbai, the 6th February, 2020
Hike in Deposit Insurance Premium
No. DICGC/RPIC/2676/02.01.003/2019-20.—In exercise of the powers conferred by Sub-Section
(1) of Section 15 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, the Deposit Insurance
and Credit Guarantee Corporation, with the previous approval of the Reserve Bank of India, hereby notifies that
the rate at which the insured bank shall be liable to pay premium to the Corporation shall be 12 paise per annum
for every ₹100 of its deposits with effect from April 1, 2020 to be calculated and paid as stipulated in Regulation
19 of the Deposit Insurance and Credit Guarantee Corporation Regulations 1961.
MALVIKA SINHA, Executive Director
[ADVT.-III/4/Exty./440/19]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.