RBI Introduces DICGC to Ensure Financial Security for Account Holders

A few days ago, money was transferred from the account of many customers in PNB Bank's branch in Noida, Uttar Pradesh. This was done by an employee of the bank. Earlier, customer data has also been leaked from SBI. At the same time, there have been reports from many other banks. Since then, customers have been afraid of how their money will be safe in the bank. RBI itself has removed this problem of the customers. RBI has said that through DICGC, we can secure our money in the bank. In any case, Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of RBI, works to provide financial security to the account holders. DICGC's full name is Deposit Insurance and Credit Guarantee Corporation. It is a wholly owned subsidiary of the Reserve Bank of India (RBI). It was established in 1978. Its main purpose is to provide insurance cover to the customers who deposit money in the bank.