Section 34 of DICGC Act, 1961 : Section 34: Returns From Insured Banks
DICGC Act, 1961
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Explanation using Example
Imagine a small community bank, "Friendly Bank," which is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The DICGC, as part of its routine monitoring, wants to ensure that Friendly Bank has adequate insurance coverage for its depositors. Under Section 34(1) of The Deposit Insurance and Credit Guarantee Corporation Act, 1961, the DICGC can direct Friendly Bank to provide detailed statements...
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