https://www.taxtmi.com/article/detailed?id=9982 Interim payment to insured depositors arises when access to deposits is restricted under an order or scheme under the Banking Regulation Act. The DICGC is liable to make time-bound interim payments upon an insured bank's liquidation, reconstruction, arrangement, merger or acquisition, subject to verification of deposits and depositor consent; payments reduce the Corporation's liability and the liquidator or bank must repay the Corporation. Timelines are prescribed with limited extensions where finalizing a scheme requires more time; liability ends if restrictions are removed or the bank can pay without restriction. en-us Sat, 04 Sep 2021 11:03:07 +0530 Sat, 04 Sep 2021 11:03:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9982 Interim payment to insured depositors arises when access to deposits is restricted under an order or scheme under the Banking Regulation Act. The DICGC is liable to make time-bound interim payments upon an insured bank's liquidation, reconstruction, arrangement, merger or acquisition, subject to verification of deposits and depositor consent; payments reduce the Corporation's liability and the liquidator or bank must repay the Corporation. Timelines are prescribed with limited extensions where finalizing a scheme requires more time; liability ends if restrictions are removed or the bank can pay without restriction. Articles Other Topics Sat, 04 Sep 2021 11:03:07 +0530 https://www.taxtmi.com/article/detailed?id=9982