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Dicgc state wise list of all branches, IFSC code, MICR code and Addresses within India
Deposit Insurance and Credit Guarantee Corporation is famous subsidiary of Reserve Bank of India (RBI). On July 15, 1979, it was established under Deposit Insurance and Credit Guarantee Corporation Act, 1961. It was created for the primary purpose of providing insurance of deposits plus guaranteeing of credit facilities in the given open market. DICGC largely insures all bank deposits like fixed, fixed, recurring and current deposits for up to the limit of Rs. 100,000 of each and every deposit in a bank. This concerns functions governed by the provisions of The
Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961 and The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) which are framed by the Reserve Bank of India largely in exercise of the powers that are actually conferred by sub-section (3) of Section 50 of the said Act.
The Deposit Insurance and Credit Guarantee Corporation Act, 1961s preamble perfectly states that it is an Act in order to largely provide for the successful establishment of a Corporation for the main purpose of different types of insurance of deposits plus guaranteeing of credit facilities. It is making its presence felt in the open market with a lot of perfection.
It is to be noted that for all significant online transactions through NEFT, MICR and RTGS transactions, an IFSC code is very important
• IFSC means Indian Financial System Code, which is an 11 digit combination of alphabets and numerals that is actually issued by the RBI to all banks in order to identify the individual branch.
• NEFT means National Electronic Fund Transfer for immediate transaction.
• RTGS means Real Time Gross Settlement transfers between banks in real time basis within the specified time frame.
• On the other hand, MICR means Magnetic Ink Character Recognition that is mainly used in all banking sectors in order to facilitate cheque processing.
In online processing, all these are significant codes that are largely used, that, in turn, fasten online transaction. It is to be remembered that DICGC IFSC code is an 11 digit alphanumeric characters that commences with the bank name, then a zero immediately followed by the branch code. It is to be noted that all DICGC IFSC code begins with DICG0******.
• It is important to keep in mind that for a hassle free transaction, you have to find DICGC IFSC code and MICR code as per the requirement while dealing with online transactions and other banking activities.
• You can select table that indicates details of the desired bank, the state where it is located, district where it is situated and then its related branch code, IFSC and MICR codes with press button.
• The derived details and other information which appears can be used for your online business or transactional activities.