The Deposit Insurance and Credit Guarantee Corporation (DICGC) on Friday released its Annual Report for 2024-25 on its portal, underlining its key role in safeguarding depositors across India.
The report highlights that co-operative banks remain central to the insured banking sector, with 1,843 out of a total 1,982 registered banks as of March 31, 2025, including 1,457 urban co-operative banks, 352 district central co-operative banks, and 34 state co-operative banks.
During the financial year, DICGC settled Rs 476 crore in claims for depositors of co-operative banks. Of this, Rs 331 crore pertained to banks under the Assistance for Insolvent Depositors (AID) scheme, and Rs 145 crore related to liquidated or merged banks. Fully protected accounts in co-operative banks stood at 98.1%, higher than commercial banks, while insured deposits covered 61.9% of total deposits, reflecting strong depositor protection.
Co-operative banks contributed Rs 1,412 crore to the total Rs 26,764 crore in premiums collected by DICGC during 2024-25, underscoring their continued role in supporting deposit insurance operations.
Repayments from liquidated and AID co-operative banks totaled Rs 1,309.08 crore, including Rs 1,069.73 crore from liquidated banks and Rs 236.18 crore from AID banks, reflecting effective recovery measures.
Since inception, DICGC has settled cumulative claims of Rs 16,940.7 crore, with co-operative bank depositors receiving a substantial share. Cumulative recoveries from co-operative banks, including liquidated, merged, and AID institutions, totaled Rs 6,809.45 crore, demonstrating sound fund management.
With 286.5 crore fully protected accounts out of 293.7 crore insured accounts, co-operative banks, along with payment and regional rural banks, lead in deposit coverage.
The Annual Report 2024-25 emphasizes that DICGC’s proactive claim settlements and strong recovery mechanisms continue to provide stability and confidence to India’s banking system, with co-operative bank depositors among the primary beneficiaries.