The Deposit Insurance and Credit Guarantee Corporation (DICGC) has received 4,001 complaints over the last five years, with Maharashtra accounting for 1,907 complaints, nearly half of the total, reflecting the large number of stressed cooperative banks in the state. The information was shared by Union Minister of State for Finance Pankaj Chaudhary in a written reply in the Rajya Sabha on Tuesday.
The Minister said the complaints related to claim settlements, general queries and representations. Karnataka recorded the second-highest number of complaints (343), followed by Uttar Pradesh (80), Gujarat and Andhra Pradesh (36 each).
The government also informed the House that DICGC has settled insurance claims worth Rs 18,931.40 crore as on March 31, 2026, covering 488 banks, the majority of them cooperative banks under liquidation, amalgamation or RBI’s All-Inclusive Directions (AID).
Importantly, the Finance Ministry stated that all eligible depositors who submitted claims through the liquidator or the restricted bank in the prescribed manner had received their insurance payments by the end of FY 2025-26.
The reply further noted that DICGC follows statutory timelines of 60 days for banks under liquidation and 45 days for banks under RBI restrictions after receiving eligible claim lists, reinforcing the deposit insurance safety net for cooperative bank customers.
