Act Number: 47

Act Name: The Deposit Insurance and Credit Guarantee Corporation Act, 1961

Year: 1961

Enactment Date: 1961-12-07

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 25: Investment.
    All moneys belonging to the Deposit Insurance Fund 1[or the Credit Guarantee Fund] or the General Fund which may not for the time being be required by the Corporation shall be invested in promissory notes, stock or securities of the Central Government and all other moneys shall be deposited with the Reserve Bank.
Notes:
1. Ins. by Act 21 of 1978, s. 8 (w.e.f. 15-7-1978).
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