Deposit Insurance and Credit Guarantee Corporation
In exercise of the powers conferred by sub section (1) and clauses (d) and (e) of sub section (2) of section 50 of the Deposit Insurance and Credit Guarantee Corporation Act 1961, the Board of Deposit Insurance and Credit Guarantee Corporation
Issue Date: 03 February 2025
Published: 04 February 2025
Amends Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961 by modifying figures in Regulation 17.
Detailed Summary
This notification from the Deposit Insurance and Credit Guarantee Corporation amends the Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961. Specifically, it modifies Regulation 17, effective from 01 February, 2025. The amendment substitutes figures in Regulation 17: in clause (i), replacing ₹10,000 and ₹5,000 with ₹50,000 and ₹25,000 respectively; and in clause (ii), replacing ₹5,000 with ₹15,000. This change is enacted by the Board of the Corporation with the Reserve Bank of India's prior approval, under powers from Section 50 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961. These amended regulations are titled "Deposit Insurance and Credit Guarantee Corporation General (Amendment) Regulations, 2024".
Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-MH-E-04022025-260761
EXTRAORDINARY
PART III-Section 4
PUBLISHED BY AUTHORITY
No. 89]
NEW DELHI, MONDAY, FEBRUARY 3, 2025/MAGHA 14, 1946
869 GI/2025
(1)
DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION
NOTIFICATION
Mumbai, the 27th January, 2025
(General (Amendment) Regulations, 2024)
Deposit Insurance and Credit Guarantee Corporation General (Amendment) Regulations, 2024
F.No. S2275/01.01.013/2024-25-In exercise of the powers conferred by sub-section (1) and clauses (d)
and (e) of sub-section (2) of section 50 of the Deposit Insurance and Credit Guarantee Corporation Act 1961, the
Board of Deposit Insurance and Credit Guarantee Corporation, with the previous approval of the Reserve Bank of
India, hereby makes the following amendments to the Deposit Insurance and Credit Guarantee Corporation General
Regulations, 1961 (hereinafter referred to as “Principal Regulations").
1. These Regulations may be called the Deposit Insurance and Credit Guarantee Corporation General (Amendment)
Regulations, 2024.
2. These Regulations shall come into force from 01 February, 2025.
3. The following amendments be made to Regulation 17 of the Principal Regulations:
(i) In clause (i) of Regulation 17, the figures ₹10,000 and 5,000 shall be substituted by the figures ₹50,000 and
₹25,000, respectively.
(ii) In clause (ii) of Regulation 17, the figure ₹5,000 shall be substituted by the figure ₹15,000.
ARNAB KUMAR CHOWDHURY, Executive Director
[ADVT.-III/4/Exty./946/2024-25]
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📜 Deposit Insurance and Credit Guarantee Corporation: In exercise of the powers conferred by sub section (1) and clauses (d) and (e) of sub section (2) of section 50 of the Deposit Insurance and Credit Guarantee Corporation Act 1961, the Board of Deposit Insurance and Credit Guarantee Corporation
Published: 04 Feb 2025
Read full text & summary: https://gazettetracker.com/g/CG-MH-E-04022025-260761
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