Deposit Insurance and Credit Guarantee Corporation Act, 1961

The Apex Co‑operative Bank of Urban Bank of Maharashtra and Goa Ltd. applied to the RBI for a licence to operate an apex bank covering Maharashtra and Goa. The RBI required the bank to be registered under the Multi‑State Co‑operative Societies Act, 1984, which the bank did, and the Maharashtra Government subsequently d…

The Board of Directors of the District Cooperative Central Bank, Panna was superseded by the Joint Registrar of Co-operative Societies without prior consultation with the Reserve Bank of India, contrary to the second proviso of Section 53(1) of the Madhya Pradesh Co-operative Societies Act, 1960. The Board challenged t…

The Supreme Court examined a dispute arising from the liquidation of Theni Co-operative Urban Bank Ltd., where depositors sought payment of amounts exceeding the Rs 1 lakh insurance limit guaranteed by the Deposit Insurance and Credit Guarantee Corporation (DICGC). The High Court had directed the Official Liquidator an…