Section 4
Capital of Corporation.
The Deposit Insurance and Credit Guarantee Corporation Act, 1961
About this Act
An Act to provide for the establishment of a corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.
1[4. Capital of Corporation.--(1) The authorised capital of the Corporation shall be one crore of
rupees but the Central Government may, in consultation with the Reserve Bank, increase such capital
from time to time, so, however, that the total authorised capital shall not exceed
2[fifty crores of rupees].
(2) The 3[issued capital] for the time being of the Corporation shall be fully paid-up and shall stand allotted to the Reserve Bank.]
(2) The 3[issued capital] for the time being of the Corporation shall be fully paid-up and shall stand allotted to the Reserve Bank.]
Notes
1. Subs. by Act 56 of 1968, s. 4, for section 4 (w.e.f. 1-7-1971).
2. Subs. by Act 1 of 1984, s. 57, for "fifteen crores" (w.e.f. 15-2-1984).
3. Subs. by Act 21 of 1978, s. 8, for "authorised capital" (w.e.f. 15-7-1978).
2. Subs. by Act 1 of 1984, s. 57, for "fifteen crores" (w.e.f. 15-2-1984).
3. Subs. by Act 21 of 1978, s. 8, for "authorised capital" (w.e.f. 15-7-1978).