Deposit Insurance and Credit Guarantee Corporation

What Deposit Insurance and Credit Guarantee Corporation does

Deposit Insurance and Credit Guarantee Corporation (DICGC) is a statutory corporation of the Government of India established under the DICGC Act, 1961, functioning as a wholly-owned subsidiary of the Reserve Bank of India. Headquartered within RBI's Mumbai premises, DICGC operates India's sole mandatory deposit insurance scheme, covering all commercial banks (including foreign bank branches), regional rural banks, local area banks, and cooperative banks — totaling 1,982 insured banks. The corporation insures eligible deposits up to ₹5,00,000 per depositor (covering both principal and interest) against bank liquidation, merger, or placement under All-Inclusive Directions (AID), and as of March 31, 2025 maintains a Deposit Insurance Fund of ₹2,28,933 Crore.

DICGC's revenue model is straightforward: mandatory recurring premiums paid by insured banks, calculated on each bank's total assessable deposits and collected on a six-month cycle, with penal interest at Bank Rate + 8% for delays. For FY 2024-25, premium received was ₹26,764 Crore. The corporation is undergoing a digital transformation, having launched the Samyak application portal in August 2025 for banks and liquidators, alongside the Claim Status Tracker (Daava Soochak) for depositors and the Claim Willingness Portal for banks under AID. The Risk Based Premium (RBP) Framework is scheduled for implementation in April 2026, introducing risk-adjusted pricing for the first time. Distribution is embedded within the bank network itself, with statutorily-mandated in-branch poster displays and liquidator-facilitated claim disbursements. Public awareness is driven through bilingual comic books, the 'Safety Net' newsletter, and a basic AI chatbot (DIA) on the corporate website.

Name

Deposit Insurance and Credit Guarantee Corporation

Legal name

Deposit Insurance and Credit Guarantee Corporation

Website

https://dicgc.org.in

Company type

Public

Founded year

1962

Operating status

Operating

Headcount range

1–10 employees

Short description

DICGC is India's statutory deposit insurer, wholly owned by RBI under the DICGC Act, 1961. It provides mandatory deposit insurance up to ₹5 lakh per depositor across 1,982 insured banks, funded by mandatory recurring premiums and supported by a ₹2,28,933 Crore insurance fund.

Ownership category

akta.pro rank

Product category

Deposit Insurance

NAICS

Other Insurance Funds (525190), Insurance and Employee Benefit Funds (5251)

SIC

Functions Related To Depository Banking, Nec (6099), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Financial Services Regulators (Banking, Securities, Insurance) (BPAIAOAK)

Keywords

• Deposit insurance
• Bank deposit protection
• Credit guarantee
• Depositor claims settlement
• Statutory insurance fund

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Others

Revenue model

1. Deposit Insurance Premium: DICGC generates revenue through mandatory insurance premiums paid by all insured banks. Premium is calculated based on each bank's total deposits as of the last day of the preceding half year. Banks have a two-month window to pay the premium. Penal interest at 8% above Bank Rate is charged for delayed payments.
2. Premium from banks under Risk Based Premium Framework: Implementation of Risk Based Premium (RBP) Framework where premium rates vary based on risk assessment of banks.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

DICGC provides mandatory deposit insurance coverage on bank deposits in India, protecting each depositor's principal and interest up to ₹5,00,000 (Rupees Five Lakhs) per bank, aggregating deposits across branches. The corporation settles insurance claims to eligible depositors when insured banks are placed under All-Inclusive Directions or liquidated, and supports the process through digital portals (Samyak, Daava Soochak) for premium payments, returns submission, and claim tracking.

Product overview

DICGC operates as a single unified deposit insurance and credit guarantee service, not a multi-module platform. The core offering is the Deposit Insurance Scheme protecting deposits up to ₹5 lakhs. Supporting digital services include the Claim Status Tracker (Daava Soochak) for depositors to check claim status, the Claim Willingness Submission Portal for AID bank depositors, the Samyak Portal for banks and liquidators, and the DI Returns Portal for premium submissions. The corporation also provides public awareness materials including comic books and informational leaflets.

Differentiator

Problem solved

Functional benefit

Brands

• Samyak: Digital portal/application developed for insured banks to facilitate premium payment, claims submission, and compliance reporting.
• Daava Soochak
• DICGC Assistant (DIA)

Products and services

• Deposit Insurance Scheme Statutory mandatory deposit insurance product that protects depositors by insuring their deposits — including savings, fixed, current, and recurring deposits — up to ₹5,00,000 (Rupees Five Lakhs) per depositor for principal and interest, in the event of bank liquidation, merger/amalgamation, or placement under All-Inclusive Directions. Deposits held in different branches of a single bank are aggregated for the insurance cover limit.
• Samyak Digital Portal (NIAS) Digital application portal hosted at nias.dicgc.org.in that allows insured banks to remit deposit insurance premiums, file DI Returns, and submit claims electronically, and enables liquidators to upload bank-wise depositor data for claim processing.
• Claim Status Tracker (Daava Soochak) Online portal allowing depositors of liquidated or All-Inclusive Direction (AID) banks to check the real-time status of their deposit insurance claims after a bank is liquidated or placed under AID.
• Claim Willingness Submission Portal Online portal where depositors of banks placed under All-Inclusive Directions can submit their willingness forms accompanied by verified identity documents to enable settlement of their deposit insurance claims within the statutory 90-day window.
• DI Returns Submission Portal Portal for insured banks to electronically submit Deposit Insurance (DI) Returns along with their premium payments to DICGC for each half-yearly period as mandated under the DICGC Master Directions, 2025.

Quantifiable outcome

• 97.60% of total accounts are fully protected under the insurance scheme
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• International Association of Deposit Insurers (IADI)coreStrategic or Co-development Partner · 1 January 2008DICGC is a member of IADI, an international organization that develops best practices for deposit insurance systems worldwide. IADI facilitates knowledge sharing and cooperation among deposit insurers from different countries.
• Reserve Bank of India (RBI)coreStrategic or Co-development Partner · 1 January 1961DICGC operates as a wholly-owned subsidiary of RBI. The RBI provides governance oversight and infrastructure. DICGC's headquarters is located within RBI's Mumbai premises. RBI imposes All-Inclusive Directions on banks, triggering DICGC's claim settlement obligations.
• Co-operative Banks and Regional Rural BankscoreChannel Partner/ Reseller/ DistributorThese banks distribute DICGC's deposit insurance services to their depositors, pay insurance premiums, and facilitate claim disbursements when required. The scheme is mandatory for all banking entities in India.
• Liquidators (appointed by RCS/CRCS)coreChannel Partner/ Reseller/ DistributorLiquidators appointed by Registrars of Co-operative Societies (RCS) and Central Registrar of Co-operative Societies (CRCS) prepare depositor-wise claim lists and disburse DICGC payments to eligible depositors.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Deposit Protection Fund (DGS) - Germany: German statutory deposit protection scheme (Einlagensicherungsfonds) for private banks. Directly comparable to DICGC in providing mandatory deposit protection funded by member bank contributions.
• Hong Kong Deposit Protection Board: Hong Kong's deposit protection scheme administrator under the Hong Kong Monetary Authority oversight. Comparable to DICGC as an Asian deposit insurer with statutory coverage and premium-based funding.
• Financial Services Compensation Scheme (FSCS): UK's statutory deposit and investment protection scheme. Comparable as a deposit protection entity funded by levies on member firms with statutory claim settlement powers.
• Korea Deposit Insurance Corporation (KDIC): South Korea's statutory deposit insurance corporation providing protection for depositors and policyholders. Closely comparable to DICGC as an Asian deposit insurer with similar coverage mechanisms and statutory claim settlement authority.
• Deposit Insurance Corporation of Japan (DICJ): Japan's statutory deposit insurance corporation with similar functions to DICGC - insures deposits, manages resolution, and collects premiums from member financial institutions under regulatory oversight.
• Fonds de Garantie des Dépôts et de Résolution (FGDR): French deposit guarantee and resolution fund covering retail deposits. Comparable to DICGC as a statutory mechanism funded by contributions from member institutions with defined coverage limits.
• Federal Deposit Insurance Corporation (FDIC): U.S. statutory deposit insurance corporation insuring deposits at commercial banks and savings institutions. Most directly comparable peer - both are government-backed deposit insurers with mandatory bank participation, premium-based funding, and claim settlement mandates.
• Canada Deposit Insurance Corporation (CDIC): Canadian federal deposit insurer protecting depositors at member banks. Directly comparable to DICGC in mandate, statutory structure, and premium-based revenue model with member bank funding.

Broad incumbents

• Australian Prudential Regulation Authority (APRA): Australia's prudential regulator that oversees the Financial Claims Scheme (deposit insurance). Comparable as a broader financial regulatory body with deposit insurance as one of its functions, unlike DICGC's single-purpose mandate.
• Reserve Bank of India (RBI): DICGC's parent organization - India's central bank and primary banking regulator. While not a direct peer, RBI's regulatory oversight of the banking system parallels the broader financial stability mission that deposit insurance supports.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@dicgcindia
• LinkedInlinkedin.com/company/dicgc
• Instagraminstagram.com/dicgc.india?igsh=b2QyNzI5dWVhaDQ=

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deposit Insurance and Credit Guarantee Corporation