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The Deposit Insurance and Credit Guarantee Corporation Act, 1961

63 sections · 6 chapters · 2 schedules

- Section 1 Short title, extent and commencement.
- Section 2 Definition.
- Section 21A Guaranteeing of credit facilities and indemnifying credit institutions.
- Section 21B Corporation to act as agent of Central Government.
Section 18A Liability of Corporation to make interim payment to depositors of insured bank.
Section 43A Powers of Reserve Bank not to apply to International Financial Services Centre.
Schedule 1 THE FIRST SCHEDULE
Schedule 2 THE SECOND SCHEDULE.

The Deposit Insurance and Credit Guarantee Corporation Act, 1961

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The Deposit Insurance and Credit Guarantee Corporation Act, 1961
Chapter IV

Chapter IV

FUNDS, ACCOUNTS AND AUDIT

Sections in this chapter

Section 22 — Funds of Corporation.
Section 23 — Deposit Insurance Fund.
Section 23A — Credit Guarantee Fund.
Section 24 — General Fund.
Section 25 — Investment.
Section 25A — Amount in one fund may be transferred to the other fund or may be utilised for other purposes.
Section 26 — Advances by Reserve Bank.
Section 27 — Advances from General Fund to the Deposit Insurance Fund or Credit Guarantee Fund.
Section 28 — Preparation of balance-sheet, etc., by corporation.
Section 29 — Audit.
Section 30 — Income-tax.
Section 31 — Reserve Fund.
Section 32 — Annual accounts and reports.