Deposit cover
- Credit societiesNone, except state schemes
- PACSNone, except state schemes
- Labour societiesNone, except state schemes
- Co-op banksDICGC, up to ₹5 lakh
- Other co-operativesNone, except state schemes
- Can I buy cover myself?No
DICGC limit ₹5 lakh per depositor, per bank, since 4 Feb 2020.
State schemes
| State | Covers | Up to | In force |
|---|---|---|---|
| Kerala | Credit societies | ₹10 lakh | Yes |
| Kerala | PACS | ₹10 lakh | Yes |
| Maharashtra | Credit societies | ₹1 lakh | Not live |
- Kerala Co-operative Deposit Guarantee Fund: Per member; depends on the society's contribution
- Kerala Co-operative Deposit Guarantee Fund: Per member; depends on the society's contribution
- Maharashtra credit society deposit protection scheme: Insurer still being chosen
Questions every member can ask
- Is its status Functional?
- Are deposits covered, and up to how much?
- Is the latest audited annual report available to members?
- What audit class did it get?
- Does every deposit come with a receipt?