.......According to the existing norms of DICGC, a wholly-owned subsidiary of the RBI, a maximum of Rs 1 lakh is paid to a depositor in case a bank goes insolvent. "In terms of the provisions of the Deposit Insurance and Credit Guarantee Corporation Act, the deposit insurance coverage is also applicable to the eligible deposits held in all eligible co-operative banks," Chidambaram said in a written reply. He said the government has suggested Deposit Insurance and Credit Guarantee Corporation (DICGC) and the Reserve Bank of India to adopt to risk-based deposit insurance premium structure. This will be prior to the DICGC proposal for increasing insurance coverage limit from Rs 1 lakh to to Rs 2 lakh being approved ........
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