IADI-APRC International Conference hosted by DICGC at Jaipur from August 12-14, 2024

DICGC Conference held in Srinagar, Jammu and Kashmir on May 22, 2022

DICGC held its Conference with other departments of RBI such as Department of Regulation and Legal Department in Madurai, Tamilnadu from November 1-2, 2019.

DICGC participated in the 16th IADI AGM and Annual Conference on OCT 8-13 at Quebec City, Canada and set up a stall at the International Exhibition on Deposit Insurance. The following officials participated: Shri K K Vohra – Executive Director, Shri Sonjoy Sethee - CFO

DICGC Participated in the 15th IADI AGM and Annual Conference on Oct 26-27, at Seoul and set up a stall at the International Exhibition on Deposit Insurance. The following officials participated: Shri N S Vishwanathan - Deputy Governor, Shri K K Vohra - Executive Director, Smt Kumidini Hajra - Senior Policy & Research Advisor (SPRA), IADI, Smt Kiran Acharya - AGM

The Deputy Governor, RBI and Chairman of DICGC, Shri N S Vishwanathan visited DICGC on July 18, 2016. The brief highlights of his visit are as follows : In the introductory and welcoming note, ED (K. K. Vohra) referred to the historical reforms brought out by DG in UCB area, the main clients of DICGC. DG keenly interacted with HODs and other Officers. In his highly motivational and inspirational speech, he said that in DICGC each staff member can make an impact on the life of common man. He stressed upon the officers to accept challenges which were pivotal in the renewed role of DICGC. DG also encouraged innovation and informed that he is available for discussion on any new ideas. The tasks assigned need to be taken to their logical conclusion within a stipulated timeframe so as to have an impact on the bottom line of the respective business areas. He guided the audience to be in preparedness for implementation of Risk Based Premium. DG advised to firm up all requirements of Integrated Application Software Solution currently underway and make all out efforts for ‘Go-live’ as per timelines.

1. The International Association of Deposit Insurers (IADI) was formed in May 2002 to enhance the effectiveness of deposit insurance systems by promoting guidance and international cooperation. Currently IADI represents 82 deposit insurers. Members of IADI conduct research and produce guidance for the benefit of those jurisdictions seeking to establish or improve a deposit insurance system. Members also share their knowledge and expertise through participation in international conferences and other forums. 2. Shri. K. K. Vohra, who took over charge as ED/ CEO of DICGC from November 2015, is a member of Executive Council (EXCO), Research and Guidance Committee (RGC), Sub-Committees on Resolution Issues for Financial Corporation and Working Group Technical Assistance (SC-WGTA). 3. The CEO accompanied by a senior officer participated in meetings of RGC, SC-WGTA and 48th EXCO meeting held in last week of May, 2016 in Paris. Discussion on important issues like adoption of different approach for digital stored value products, protection of money held in custodian accounts by bringing under the ambit of insurance cover to strengthen consumer protection, ensuring financial stability and to support extended financial inclusion. Other important issues viz., imparting training to non - IADI members, regular sharing of non-banking data and aggregation of accounts, etc. were highlighted in the meetings.

A one day workshop for the liquidators of urban co-operative banks (UCBs)under liquidation pertaining to Nagpur Region was conducted by DICGC in association with local UBD on November 21, 2014 at RBI, Nagpur. The objective of the workshop was to sensitize the Liquidators on their role and responsibilities in respect of 26 UCBs under liquidation in Vidarbha and Marathwada region of Maharashtra. The Workshop was inaugurated by Shri Jasbir Singh, Executive Director, DICGC. Shri P.K. Jena, CGM-OIC, Nagpur Office, Shri Dwijaraj Sethi, GM, DICGC, Shri B. Ramesh, DGM, UBD, Nagpur, Smt U.A.Dhakras, AGM, DICGC, Shri M. V.Khabhade, AM, DICGC, Shri Dinesh Oulkar, Commissioner & Registrar of Co-operative Societies, Pune and Shri Dhananjay Doiphode, Joint Registrar Societies were present on the occasion. In his keynote address Shri Jasbir Singh, Executive Director emphasized the need on the part of liquidators for expediting submission of claims to DICGC, disbursement of claim amount to the depositors, recovery of assets, repayment of dues to the Corporation. He also stressed regarding prompt submission of statements to DICGC, UBD, RBI and RCS. He added that having taken any insured entity under liquidation, it requires earnest and collective efforts by the Government and the Corporation for timely payment of the hard earned money of the depositors and ease their hardship. The Registr ar of Cooperative Socie ties also addressed the participants followed by power point presentations made by Shri D. Sethi, General Manager regarding broad outline of the function of the Corporation and the responsibilities of the liquidators under liquidation process. Smt. U. A. Dhakras, AGM also explained about the compilation of the quarterly returns. Bank-wise specific aspects such as distribution and refund of undisbursed amount, repayment of dues to DICGC, submission of balance confirmation certificates, quarterly statements, completion of liquidation proceedings, submission of claim lists to the Corporation, etc. were reviewed by DICGC officials. The queries/issues raised by the liquidators were suitably addressed by the DICGC officials. The liquidators were highly benefited from the workshop. Prior to the workshop, a high level meeting of Shri Jasbir Singh, ED was held with the officials of RCS to discuss the pending issues including completion of liquidation process. RCS officials were very positive and assured to do the needful.

DICGC, Mumbai organised a workshop for the liquidators on August 14, 2014 at RBI Hyderabad. About 19 Liquidators of the 35 urban co-operative banks (UCBs) which are under liquidation had participated in the workshop. The objective of the workshop was to highlight the issues, concerns of DICGC, the role and responsibilities of the liquidators. The main issues discussed with the liquidators related to refund of undisbursed amount lying with them, repayment of dues of the corporation through recovery of the assets of the failed banks, payment made above Rs.one lakh to the depositors by some liquidators, non-submission of balance confirmation certificates, non-submission / delay in submission of quarterly statements and discrepancies therein. Shri K.R.Das, Regional Director welcomed the participants and flagged the objectives of the workshop. He stated that the workshop was aimed to sensitise the liquidators regarding their responsibilities which will ultimately benefit the small depositors for getting effective services. He also explained the importance of the role played by DICGC in case of bank failures. Shri Jasbir Singh, Executive Director, DICGC in his inaugural address, emphasised on the joint responsibility of DICGC and liquidators towards small depositors by ensuring timely disbursement of the insured sum upto Rs. one lakh. He also emphasised the role and responsibilities of the liquidators and advised the liquidators to cooperate in addressing the issues concerned. In this context he requested the Liquidators to ensure to disburse the claim amount given by the DICGC to the respective depositors within the stipulated time period of four months and thereafter refund the undisbursed amount to DICGC. He further stated the liquidators can submit the supplementary claims along with full particulars afterwards and the DICGC will settle the same by remitting/crediting the amount to the concerned depositors account within the earliest possible time. He also requested the liquidators to make efforts to realise the amounts from the assets of the failed banks and arrange to repay the dues of th e Corporat ion. Shri D. Sethi,GM, DICGC gave a small presentation on the role of the liquidators and expectations of DICGC from them. He sought support from them for early refund of the undisbursed amount lying with them as well as repayment of dues of the Corporation out of the recoveries made from the failed banks assets. The workshop was well received by the participants.

The Deposit Insurance and Credit Guarantee Corporation (DICGC) hosted the Sixth Meeting of International Association of Deposit Insurers (IADI) Steering Committee on the Revision of Core Principles. The meeting was held at Hotel Taj Mahal Palace, Mumbai, India during December 10-12, 2013. The meeting was attended by 25 Chief Executive Officers and other senior officials from 18 countries. Dr. Urjit Patel, Chairman, DICGC graced the occasion. Shri Jasbir Singh, Executive Director, DICGC made a presentation on Towards Consolidating Resolution Infrastructure. The Core Principles for Effective Deposit Insurance Systems were issued by IADI and the Basel Committee on Banking Supervision (BCBS) in June 2009. Since their introduction, experience gained from using the Core Principles and international regulatory developments revealed areas where the Core Principles needed to be updated and enhanced. In February 2013, IADI established an internal Steering Committee to review and update the Core Principles and develop a proposed set of revisions. In the meeting held in Mumbai, the Steering Committee gave final share to the revisions which will be presented a joint BCBS-IADI working group which includes representatives from the European Forum of Deposit Insurers (EFDI), the European Commission (EC), the FSB, the IMF and World Bank. The final revised set of Core Principles is expected to be released by mid-2014.

The Deposit Insurance and Credit Guarantee Corporation (DICGC), India, will be hosting a technical seminar in collaboration with the International Association of Deposit Insures (IADI). The theme of the seminar is “Investment Management for Deposit Insurance Agencies”. DICGC and IADI are pleased to invite you to participate in the seminar. The Seminar held during February 20 – 22, 2013 at Mumbai, India.

The Deposit Insurance and Credit Guarantee Corporation (DICGC), India, will be hosting a Conference in collaboration with the International Association of Deposit Insures (IADI). The Conference will be on Role of Deposit Insurance in Bank Resolution Framework - Lessons from the Financial Crisis. DICGC and IADI are pleased to invite you to participate in the Conference. The Conference held during November 13-16, 2012 at Jodhpur, India.

The Deposit Insurance and Credit Guarantee Corporation is hosting the 8th Annual Meeting of IADI Asia Regional Committee and International Conference at Goa, India during January 18-20, 2010. The delegates of the IADI Asia Regional Committee (Bangladesh, Hong Kong, India, Indonesia, Japan, Kazakhstan, Korea, Malaysia, Philippines, Russia, Singapore, Taiwan, Thailand and Vietnam) as also guests from IADI and some other IADI member countries will participate in the Conference. There will also be participants from the Reserve Bank of India. The theme of the International Conference is "Funding of Deposit Insurance Systems”. The discussions will cover a wide range of issues including funding mechanism, management of deposit insurance funds and different perspectives on funding of deposit insurance systems. A session is also devoted to Guidelines for Effective Deposit Insurance Systems, including the guidance on funding.