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of <h1>DICGC Settles Rs. 4,055.10 Crore Claims for 3,06,146 Depositors from 35 Banks Post-2021 Amendment Act.</h1> The Deposit Insurance and Credit Guarantee Corporation (DICGC) has settled claims for 3,06,146 depositors from 35 banks, totaling Rs. 4,055.10 crore, since the DICGC (Amendment) Act, 2021 took effect. This was disclosed by a government official in a Lok Sabha session. The Act mandates that depositors receive up to Rs. 5 lakh within 90 days following the Reserve Bank of India's imposition of All Inclusive Directions (AID) on banks. Since the amendment, 12 banks have liquidated after insurance payouts were made to depositors. The process requires banks to submit depositor lists within 45 days of AID imposition.
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