Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of the Reserve Bank of India (RBI). It provides deposit insurance that works as a protection cover for bank deposit holders when the bank fails to pay its depositors. Government has enhanced the deposit insurance cover from Rs. 1.00 lac to Rs. 5.00 lacs in the interest of small depositors.
In this context a function was held which was presided over by Prime Minister Narendra Modi at 18 locations through a live webcast. One of these 18 locations was Guna in Madhya Pradesh where a graceful programme was organised by State Bank of India, in which more than 150 beneficiaries were present. Union Cabinet Minister for Agriculture and Farmers Welfare Narendra Singh Tomar graced the occasion with his presence as Chief Guest. Hon’ble Prime Minister also interacted with the beneficiaries through a live webcast.
Before the address of Prime Minister from New Delhi, Narendra Singh Tomar gave cheque of Rs. 5.00 lakh to each beneficiary and interacted with them.
Speaking on the occasion, Tomar said, for all round development of the country Modi Government has taken several reforming decisions, which are benefiting the country. Tomar also mentioned various Government schemes of public interest like Mudra Yojana, Awas Yojana, Suraksha Bima Yojana etc. and appreciated Bank’s role during the tough times of COVID-19 epidemic. During his address Binod Kumar Mishra, Chief General Manager, State Bank of India urged the depositors to ensure that their bank is enlisted with DICGC before depositing their money and to meticulously follow KYC guidelines for opening of account along with registration of nominee.
During the occasion Panchayat and Rural Development Minister of Madhya Pradesh Mahendra Singh Sisodiya, Local MLA Gopi Lal Jatav, Gajendra Sikarwar, Chief General Manager, State Bank of India Binod Kumar Mishra, General Manager Sundeep Kumar Dutta, Deputy General Manager Parvinder Bharti, Deputy General Manager Gwalior Module Gopal Jha, Regional Manager Guna Sanjay Pagey and other senior officials were also present.