Deposit Insurance and Credit Guarantee Corporation settled claims amounting to `8,516.6 crore during 2021-22 of about 12.94 lakh depositors of liquidated banks, merged entities and those placed under restrictions by the Reserve Bank.
All commercial banks, including branches of foreign banks functioning in India, local area banks, regional rural banks, small finance banks and payment banks, are covered under the Deposit Insurance Scheme.
Out of the `8,516.6 crore claims settled by the DICGC, `5,059.2 crore were towards liquidated and merged banks and `3,457.4 crore pertained to banks under All Inclusive Directions (AID) of the RBI, said the annual report of DICGC.
Under AID, restrictions are imposed on withdrawals of deposit.
The report said that during the fiscal ending March-2022, claims worth `5,059.18 crore were paid to nearly 10.34 lakh depositors of liquidated and merged banks.
A total of `3,457.44 crore was paid to about 2.6 lakh depositors of banks under AID, it added. All the claims were related to co-operative banks.
“There were no claims from commercial banks,” the report said.
