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Corporate Laws Central Ministry of Finance Deposit Insurance and Credit Guarantee Corporation Act, 1961

DICGC issues DICGC (Payment of Deposit Insurance Premium and Submission of Returns by Insured Banks) Directions, 2025

01-Oct-2025 | CO.DICG.IOD.No.S1051/05-60-999/2025-2026

DICGC has issued DICGC (Payment of Deposit Insurance Premium and Submission of Returns by Insured Banks) Directions, 2025 with effect from 01st October 2025. Key Highlights: Applicability - Applicable to all commercial, co-operative, regional rural, small finance, payment, and local area banks in India. Registration of Banks with DICGC - New banks must apply for registration soon after receiving an RBI license. Required documents include license, incorporation certificate, GSTIN, PAN, etc. Online Portal (Samyak) - All submissions, premium payments, and auditor certifications must be done through Samyak. Premium Computation - Premium payable is 12 paise per 100 of assessable deposits annually, payable half-yearly by May and November. The rate can be increased up to 15 paise per 100 with RBI approval for any further rise. Payment Process - Premium payments are valid only through Samyak-generated challans, expiring at 4:30 PM the same day. Direct payments to DICGC accounts are invalid. Submission of DI Return is complete only after successful payment. Interest, Penalties, and GST - Delayed or short payments attract 8% above the Bank Rate as interest. GST applies at 18% IGST or 9% CGST + 9% SGST (for Maharashtra-based banks) on premium, interest, and penalties. Submission of DI Returns and Auditor Certificates - Banks must submit DI Returns every half-year through Samyak by the last day of the second month. Statutory Auditors must certify by June 30 each year. Any mismatch requires a revised submission. Penalties for Misreporting or Delay - False or misleading data can attract imprisonment up to 3 years and fines. Delays or misreporting can result in penalties up to Rs. 1.5 lakh per instance and Rs. 7,500 per day of continued delay. For more information, please refer to the attached document.

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