Forgive them, O Lord, for they know not what they do
......If the Government uses its muscle power to take over DICGC, there must be an explicit agreement, cast in stone, that the RBI would not, at any stage, be required to provide funds to the DICGC or the proposed Resolution Corporation. At present, the DICGC covers commercial and co-operative banks and is a mere payout agency without any regulatory or supervisory powers. The Jagdish Capoor Working Group (2000) had recommended that there be a differential premia, according to risk, and that the DICGC be empowered to undertake regulation and supervision relating to bank deposits.............
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