The Deposit Insurance and Credit Guarantee Corporation Act

Registration of existing banking companies

Registration of new banking companies

Registration of Regional Rural Banks

Registration of defunct banking companies

Cancellation of registration

Registration of co-operative banks

Registration of defunct co-operative banks

Cancellation of registration of co-operative banks

Circumstances in which Reserve Bank may require winding up of co-operative banks

Intimation of registration

Premium

Cancellation of registration of an insured bank for non-payment of premium

Liability of Corporation in respect of insured deposits

Manner of payment by Corporation in case of winding up of insured banks

Manner of payment by corporation in case of scheme of compromise or arrangement or of  reconstruction or amalgamation in respect of an insured bank

Discharge of the liability of Corporation

Provision for unpaid amounts

Repayment of the amount to corporation


REGISTRATION OF BANKING COMPANIES AND CO-OPERATIVE BANKS AS INSURED BANKS AND LIABILITY OF CORPORATION TO DEPOITORS


Every banking company being a defunct banking
company at the commencement of this Act, by reason of sub-clause (vii) or sub-clause (viii) of clause (f) of section 2 shall, unless it becomes a defunct banking company under any other sub-clause of that clause,
be registered by the Corporation as an insured bank as soon as may be after the termination of the order
moratorium or, as the case may be, the rejection of the application for its winding up.

LAWGIST

# 12 Registration of defunct banking companies