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With reference to Deposit Insurance and Credit Guarantee Insurance Corporation, which of the following statements is/are correct? 1. A subsidy of Re
Question

With reference to Deposit Insurance and Credit Guarantee Insurance Corporation, which of the following statements is/are correct?
1. A subsidy of Reserve Bank of India
2. Deposit upto Rs. 5 lakh are insured by it.
Select the correct answer using the codes given below:
Codes:

A.

Only 1

B.

Only 2

C.

Both 1 and 2

D.

Neither 1 nor 2

Correct option is C

Statement 1 is correct.
Deposit Insurance and Credit Guarantee Insurance Corporation is a subsidy of the Reserve Bank of India.
Statement 2 is correct.
Deposit up to Rs. 5 lakh are insured by it.

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