(1) An insured bank shall pay to the Corporation premium at the rate notified by the Corporation from time to time for each of the half-yearly periods ending on the last day of March and September in every year. Such premium shall be paid in advance on the basis of the total deposits as at the close of the business on the last day of the preceding half-year or if that day be a public holiday under the Negotiable Instruments Act, 1881, the preceding working day. The advance payment towards the premium due in respect of each half-year shall be made as soon as possible after the commencement of the half-year but in any event not later than the last day of the second month of that half-year.
Common Seal of the Corporation Service of notice on the corporation Remuneration of Directors and Members of Committees Section 8(5) & 9 Section 50 (2)
(d) and (e) Annual Statement of accouts Section 28 (1) Section 50(2)(1) Payment of premiun by an insured bank Section 15(2) and Section 50(2) (f) 5 95 of 2005 90 of 2014 90 60 113 of 2003 90 of 2014 The Deposit Insurance and Credit Guarantee Corporation Act, 1961
Provided that where a bank is registered as an insured bank after the first day of a half-year, the first premium payable by such bank in respect of that half-year shall be an amount bearing to the premium, which would have been payable by that bank in respect of the half-year in which it was registered had it been registered at the commencement of such half-year, the same proportion as the number of days in that half-year from the date of such registration to the end of the half-year bears to the total number of days in that half-year, and such premium shall be paid within thirty days of the receipt by that bank of the intimation under section 14 of the Act.
Provided further that in the case of a new banking company the premium payable by it in respect of the first half-year shall be arrived at on the basis of one half of the maximum estimated deposits mentioned by such new banking company in its application to the Reserve Bank for a licence to commence banking business under section 22 of the Banking Regulation Act, 1949.
(2) The actual premium payable by an insured bank in respect of a half-year shall be determined on the basis of its total deposits as on the last day of the preceding half-year.
Provided that where the registration of an insured bank has been cancelled, the actual premium payable by such bank in respect of the period in a halfyear upto the date of such cancellation shall be determined on the basis of the deposits outstanding on the date of cancellation of its registration as an insured bank.
(3) Every insured bank shall, as soon as possible after the commencement of each calender half-year but in any event not later than the last day of the second month of that half-year, furnish to the Corporation a statement, in duplicate, duly certified as correct by two officials authorised by it, in such form as may be specified by the Corporation showing the basis on which the premium payable by that bank has been calculated and the amount of premium payable by that bank to the Corporation for that half-year.
Provided that if any insured bank is not able, on account of circumstances beyond its control, to determine the figure of its total deposits referred in sub-regulation (1), it may provisionally calculate the amount of premium payable by it to the Corporation on the basis of its total deposits as at the close of business on the penultimate day of the preceding half-year or if that day is a public holiday under the Negotiable Instruments Act, 1881, the preceding working day and pay the half-yearly premium payable by it accordingly subject to adjustment, if any, being made on the figure of its total deposits referred to in sub-regulation (1) as soon as possible thereafter 6 The Deposit Insurance and Credit Guarantee Corporation Act, 1961 but in any event not later than such date as may be specified by the Corporation from time to time.
(4) If at anytime after payment of the premium payable to the Corporation for any period it is found that the insured bank has paid a sum less than the sum payable by it either on account of an error in the calculation made by it or on account of an error in the figures furnished by it or otherwise, the insured bank shall be liable to pay immediately to the Corporation such additional sum as may be due on account of the error in calculation or in the figures or otherwise, with interest, if any, payable under Regulation 20.
20. If an insured bank does not pay on or before the stipulated date the premium payable by it, or any portion thereof it shall be liable to pay interest on the amount of premium payable by it or on the unpaid portion thereof, as the case may be, at 8 per cent above the Bank Rate from the beginning of the financial half-year till the date of payment.
21. The Corporation may at any time waive any payment due to it by way of interest on such conditions and for such period or periods as it may deem fit.
22. The amounts repayable to the Corporation under sub-section (2) of section 21 of the Act shall be paid from time to time by, -
(a) the liquidator as soon as the realisations and other amounts in his hands, after making provision for expenses payable by that time, are sufficient to enable him to declare a dividend of not less than one paisa. in the Rupee to each depositor.
(b) the insured bank or the transferee bank, as the case may be, as soon as the realisations and other amounts in its hands, after making provision for expenses payable by that time in respect of such realisations or other amounts in its hands are sufficient to enable it after the date of coming into force of the scheme referred to in section 18 of the Act, to pay or credit in respect of each depositor a sum not less than one paisa in the Rupee.
23. Any amount payable to the Corporation on account of premium or interest or otherwise may be paid into the Reserve Bank of India, Bombay or remitted to the Corporation by crossed cheque, crossed demand draft or telegraphic transfer in favour of the Corporation and payable at Bombay and drawn on the Reserve Bank of India, Bombay or an office in Bombay of an insured bank.
113 of 1993Payment of interest on overdue premium Section 15(3) Section 50(2)(g) Waiver of interest due to the Corporation Repayments to the Corporation Section 21(2) Section 50(2)(h) Mode of payments to the Corporation Sections 15(2), 21(2) Section 50(2) (f) and
(h) 7 D EP O SI T IN SU R A N C E A N D C R ED IT G U A R A N TE E C O R P O R A TI O N (E st ab lis h ed u n d er t h e D ep o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) - (R eg u la ti o n 1 8 - F o rm 'A ') B al an ce S h ee t as a t th e cl o se o f b u si n es s o n t h e 3 1 st M ar ch I.
D EP O SI T IN SU R A N C E FU N D ( D IF ) an d C R ED IT G U A R A N TE E FU N D ( C G F) (` in m ill io n ) P re vi o u s Y e ar D IF C G F LI A B IL IT IE S D IF C G F P re vi o u s Y e ar D IF C G F A SS ET S D IF C G F 1 .
Fu n d ( B al an ce a t th e en d o f th e ye ar ) 1 .
B al an ce w it h t h e R e se rv e B an k o f In d ia 2 .
Su rp lu s (B al an ce a s p e r R e ve n u e A cc o u n t A n n e xe d ) 2 .
C as h in T ra n si t 3 .
In ve st m e n t R e se rv e 3 .
In ve st m e n ts i n C e n tr al G o ve rn m e n t Se cu ri ti e s (a t co st ) B al an ce a t th e b eg in n in g o f th e ye ar A d d :
A m o u n t p ro vi d ed f o r d u ri n g th e ye ar B al an ce a t th e en d o f th e ye ar D IF C G F Fa ce v al u e M ar ke t va lu e 4 .
In ve st m e n t Fl u ct u at io n R e se rv e B al an ce a t th e b eg in n in g o f th e ye ar A d d :
A m o u n t p ro vi d ed f o r d u ri n g th e ye ar B al an ce a t th e en d o f th e ye ar 5 .
C la im s In ti m at e d & C la im s ad m it te d b u t N o t p ai d 6 .
Es ti m at e d l ia b ili ty i n r e sp e ct o f cl ai m s in ti m at e d b u t n o t ad m it te d * 7 .
A d va n ce f ro m R e se rv e B an k o f In d ia ( Se ct io n 2 6 o f th e D e p o si t In su ra n ce an d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) 4 .
In te re st a cc ru ed o n in ve st m e n ts 5 . A d va n ce t o D IF /C G F (S e ct io n 2 5 A o f th e D e p o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) 6 .
A d va n ce t o D IF /C G F (S e ct io n 2 7 o f th e D e p o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) 7 .
O th e r A ss e ts ** 8 .
D e fi ci t (B al an ce as p e r R e ve n u e A cc o u n t A n n e xe d ) 8 .
A d va n ce f ro m D IF /C G F (S e ct io n 2 5 A o f th e D e p o si t In su ra n ce an d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) 9 .
A d va n ce f ro m D IF /C G F (S e ct io n 2 7 o f th e D e p o si t In su ra n ce an d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) 1 0 .
In su re d d ep o si ts r e m ai n in g u n cl ai m e d 1 1 .
In su re d D e p o si ts in b an ks w h o se re gi st ra ti o n as in su re d b an ks h as b e en c an ce lle d 1 2 .
O th e r Li ab ili ti e s* * TO TA L TO TA L N o te 1 .
* Th e es ti m at ed l ia b ili ty f o r cl ai m s in ti m at ed t o t h e C o rp o ra ti o n b u t n o t ad m it te d h as b ee n c o m p u te d a ft er d ed u ct in g fr o m t h e cl ai m s ac tu al ly l o d ge d , an a m o u n t eq u al t o _ __ __ __ __ __ __ p er ce n t o f th e gr o ss c la im s o n a cc o u n t o f u su al r ej ec ti o n s/ w it h d ra w al 2 .
** D et ai ls o f ea ch it e m in d ic at in g it s n at u re m ay b e gi ve n u n d er t h es e h ea d s 3 .
A p p ro p ri at e n o te r eg ar d in g su b ro ga ti o n r ig h ts a n d p ro vi si o n a ga in st t h e sa m e to b e gi ve n D EP O SI T IN SU R A N C E A N D C R ED IT G U A R A N TE E C O R P O R A TI O N (E st ab lis h ed u n d er t h e D ep o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) (R eg u la ti o n 1 8 - F o rm 'A ') B al an ce S h ee t as a t th e cl o se o f b u si n es s o n t h e 3 1 st M ar ch II . G EN ER A L FU N D ( G F) ( ` in m ill io n ) P re vi o u s Y e ar LI A B IL IT IE S P re vi o u s Y e ar A SS ET S 1 .
C ap it a l :
P ro vi d ed b y th e R es er ve B an k o f In d ia ( R B I) u n d er S ec ti o n 4 o f th e D ep o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) 1 . C A SH (i ) In h an d (i i) W it h R es er ve B an k o f In d ia 2 . R e se rv e s A ) G e n e ra l R e se rv e 2 .
In ve st m e n t in C e n tr al G o ve rn m e n t Se cu ri ti e s (A t C o st ) B al an ce a t th e b eg in n in g o f th e ye ar A d d : S u rp lu s tr an sf er re d f ro m t h e R ev en u e A cc o u n t (F ac e V al u e:
R s.
_ __ __ __ __ _) (M ar ke t V al u e:
R s.
__ __ __ __ _ _) B ) In ve st m e n t R e se rv e B al an ce a t th e b eg in n in g o f th e y ea r 3 . I n te re st a cc ru e d o n In ve st m e n ts A d d : A m o u n t p ro vi d ed f o r d u ri n g th e ye ar 4 .
A d va n ce t o D IF /C G F, i f an y (v id e S e ct io n 2 7 o f th e D e p o si t In su ra n ce an d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) (C ) In ve st m e n t Fl u ct u at io n R e se rv e B al an ce a t th e b eg in n in g o f th e ye ar A d d : A m o u n t p ro vi d ed f o r d u ri n g th e ye ar 5 . O th e r A ss e ts * Fu rn it u re , F ix tu re s & E q u ip m e n t (l es s d ep re ci at io n ) 3 .
O th e r R e se rv e s S to ck o f St at io n er y 4 . C u rr e n t Li ab ili ti e s an d P ro vi si o n s P re p ai d E xp en se s Su n d ry D eb to rs St af f P ro vi d en t Fu n d St af f G ra tu it y Fu n d O th er L ia b ili ti e s* St af f Le av e / R et ir em en t Fa re C o n ce ss io n O u ts ta n d in g Ex p en se s Su n d ry C re d it o rs * D et ai ls o f ea ch it em s in d ic at in g it s n at u re m ay b e gi ve n u n d er t h es e h ea d s D EP O SI T IN SU R A N C E A N D C R ED IT G U A R A N TE E C O R P O R A TI O N ( Fo rm 'B ') R ev en u e A cc o u n t fo r th e ye ar e n d ed 3 1st M ar ch I.
D EP O SI T IN SU R A N C E FU N D ( D IF ) A N D C R ED IT G U A R A N TE E FU N D ( C G F) (` in m ill io n ) P re vi o u s Y e ar D IF C G F EX P EN D IT U R E D IF C G F P re vi o u s Y e ar D IF C G F IN C O M E D IF C G F To C la im s:
B y B al an ce o f Fu n d a t th e b eg in n in g o f th e ye ar (a ) P ai d d u ri n g th e ye ar (b ) A d m it te d b u t N o t p ai d B y D ep o si t In su ra n ce P re m iu m (i n cl u d in g in te re st o n o ve rd u e p re m iu m ) B y G u ar an te e Fe es (i n cl u d in g in te re st o n o ve rd u e gu ar an te e fe es ) A d d :
Es ti m at ed li ab ili ty in r es p ec t o f cl ai m s in ti m at ed b u t n o t ad m it te d a t th e en d o f th e ye ar Le ss :
Es ti m at ed li ab ili ty in r es p ec t o f cl ai m s in ti m at ed b u t n o t ad m it te d a t th e en d o f th e p re vi o u s ye ar B y R ec o ve ri es i n r e sp ec t o f D ep o si t In su ra n ce cl ai m s se tt le d /G u ar an te e cl ai m s p ai d N e t cl ai m s To P ro vi si o n f o r d ep re ci at io n i n t h e va lu e o f in ve st m en ts cr ed it ed t o In ve st m en t R e se rv e B y In co m e fr o m In ve st m en ts * To I n te re st o n a d va n ce f ro m R es er ve B an k o f In d ia ( Se ct io n 2 6 o f D ep o si t In su ra n ce an d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) B y N et d ef ic it c ar ri ed d o w n To I n te re st o n a d va n ce f ro m D IF /C G F ( Se ct io n 2 5 A o f th e D ep o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) To In te re st o n ad va n ce fr o m D IF /C G F (S e ct io n 2 7 o f th e D ep o si t In su ra n ce a n d C re d it G u ar an te e C o rp o ra ti o n A ct , 1 9 6 1 ) To b al an ce o f fu n d a t th e en d o f th e ye ar To N et S u rp lu s C ar ri ed D o w n To N et d ef ic it b ro u gh t d o w n B y N et S u rp lu s B ro u gh t D o w n To B al an ce b ro u gh t fo rw ar d f ro m la st y ea r To T ra n sf er t o D IF /C G F B y B al an ce b ro u gh t fo rw ar d f ro m la st y ea r B y Tr an sf er f ro m D IF /C G F To P ro vi si o n f o r In co m e -T ax To T ra n sf er t o In ve st m en t Fl u ct u at io n R es er ve To B al an ce c ar ri ed t o B al an ce S h ee t B y B al an ce c ar ri ed t o B al an ce S h ee t * P ro fi t o r lo ss o n s al e o f C en tr al G o ve rn m en t Se cu ri ti e s an d p ro vi si o n s fo r d ep re ci at io n o n in ve st m en ts m ay b e ad d ed o r d ed u ct ed a s th e ca se m ay b e D EP O SI T IN SU R A N C E A N D C R ED IT G U A R A N TE E C O R P O R A TI O N ( D IC G C ) ( Fo rm 'B ') R ev en u e A cc o u n t fo r th e ye ar e n d ed 3 1 st M ar ch II . G EN ER A L FU N D ( G F) (` i n m ill io n ) P re vi o u s Y e ar EX P EN D IT U R E P re vi o u s Y e ar IN C O M E To Sa la ri es an d al lo w an ce s an d co n tr ib u ti o n s to St af f P ro vi d en t Fu n d B y In co m e fr o m In ve st m en ts * To C o n tr ib u ti o n t o S ta ff G ra tu it y Fu n d B y In te re st o n A d va n ce s to D IF /C G F To D ir ec to rs ’ a n d C o m m it te e M em b er s’ F ee s To D ir ec to rs ’ an d C o m m it te e M em b er s’ T ra ve lli n g an d o th er a llo w an ce s B y M is ce lla n eo u s R ec e ip t To R en t, T ax es , I n su ra n ce , Li gh ti n g e tc .
B y b al an ce b ei n g ex ce ss o f Ex p en d it u re o ve r In co m e, if a n y, t ra n sf er re d t o B al an ce S h ee t To E st ab lis h m en t - Tr av el lin g & H al ti n g A llo w an ce s To P ri n ti n g an d S ta ti o n er y To P o st ag e, T el eg ra m s an d T e le p h o n es To A u d it o rs ' F ee s To L eg al C h ar ge s To P ro vi si o n f o r D ep re ci at io n in v al u e o f In ve st m en t To M is ce lla n eo u s Ex p en se s To D ep re ci at io n To A d ve rt is em en t To B al an ce b ei n g ex ce ss o f in co m e o ve r ex p en d it u re ca rr ie d d o w n To T ra n sf er t o G en er al R es er ve B y B al an ce b ei n g ex ce ss o f in co m e o ve r ex p en d it u re - b ro u gh t d o w n To T ra n sf er t o In ve st m en t Fl u ct u at io n R es e rv e To T ra n sf er t o O th er R es e rv e s (g iv e d et ai ls ) * P ro fi t o r Lo ss o n s al e o f G o ve rn m en t Se cu ri ti e s an d p ro vi si o n f o r d ep re ci at io n o n in ve st m en ts m ay b e ad d ed o r d ed u ct ed a s th e ca se m ay b e