Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

  1. DICGC stands for _______
    A. Demand Insurance and Credit Guarantee Corporation
    B. Demand Insured and Current Guarantee Corporation
    C. Deposit Insured and Credit Guarantee Corporation
    D. Detailed Insurance and Credit Guarantee Corporation
    E. Deposit Insurance and Credit Guarantee Corporation
    E. Deposit Insurance and Credit Guarantee Corporation
    Explanation:
    DICGC – Deposit Insurance and Credit Guarantee Corporation

  2. Which of the following is insured by the DICGC?
    A. Commercial Banks
    B. Foreign Banks in India
    C. Local Area Banks
    D. Regional Rural Banks
    E. All of these
    E. All of these
    Explanation:
    All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC.

  3. Which of the following Co-Operative Bank is insured by the DICGC?
    A. State cooperative Banks
    B. Central cooperative Banks
    C. Urban cooperative Banks
    D. Primary cooperative banks
    E. All of these
    E. All of these
    Explanation:
    All State, Central and Primary cooperative banks, also called urban cooperative banks, functioning in States / Union Territories are insured by DICGC.

  4. Which of the following is not insured by the DICGC?
    A. State cooperative Banks
    B. Central cooperative Banks
    C. Urban cooperative Banks
    D. Primary cooperative societies
    E. Primary cooperative banks
    D. Primary cooperative societies
    Explanation:
    Primary cooperative societies are not insured by the DICGC.

  5. Which of the following State/UT is not covered by the deposit insurance system of DICGC?
    A. Meghalaya
    B. Chandigarh
    C. Dadra and Nagar Haveli
    D. Lakshadweep
    E. All of these
    E. All of these
    Explanation:
    At present all co-operative banks other than those from the States of Meghalaya, and the Union Territories of Chandigarh, Lakshadweep and Dadra and Nagar Haveli are covered under the deposit insurance system of DICGC.

  6. In the event of a bank failure, which of the following protects bank deposits that are payable in India?
    A. RBI
    B. GOI
    C. IRDAI
    D. DICGC
    E. None of these
    D. DICGC
    Explanation:
    In the event of a bank failure, DICGC protects bank deposits that are payable in India.

  7. Which of the following deposits is insured by DICGC?
    A. Fixed Deposit
    B. Savings
    C. Current
    D. RD
    E. All of these
    E. All of these
    Explanation:
    The DICGC insures all deposits such as savings, fixed, current, recurring, etc.

  8. Which of the following deposits is not insured by DICGC?
    A. Deposits of foreign Governments
    B. Deposits of Central/State Governments
    C. Inter-bank deposits
    D. All of these
    E. None of these
    D. All of these
    Explanation:
    (i) Deposits of foreign Governments
    (ii) Deposits of Central/State Governments
    (iii) Inter-bank deposits
    (iv) Deposits of the State Land Development Banks with the State co-operative bank. These are not insured by DICGC

  9. Which of the following not insured any amount due on account of any deposit received outside India?
    A. RBI
    B. GOI
    C. IRDAI
    D. DICGC
    E. None of these
    D. DICGC
    Explanation:
    DICGC not insured any amount due on account of any deposit received outside India.

  10. DICGC not insured any amount, which has been specifically exempted by the corporation with the previous approval of ________
    A. RBI
    B. GOI
    C. IRDAI
    D. DICGC
    E. None of these
    A. RBI
    Explanation:
    DICGC not insured any amount, which has been specifically exempted by the corporation with the previous approval of Reserve Bank of India.

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