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EXPLANATORY NOTES ON DI-01 RETURNS

(a) The return in DI-01 form duly signed by two authorized officials should be submitted in duplicate twice in a calendars year e.g. in April for the first half-year April- September and in October for the second half-year October-March. Accordingly, the two half-years of the financial year 2007-08 would be marked as 09-07 or 03-08 in the box provided in DI-01.

M	M	Y	Y
0	9	0	7
0	3	0	8

(b) Assessable Deposit figures should be rounded to the nearest thousand of rupees e.g. the deposits of Rs.21,57,001/- to 21,57,499/- should be shown as Rs.21,57,000/- and the deposits of Rs.21,57,500/- to Rs.21,57,999/- should be shown as Rs.21,58,000/-.

(c) The DI-01 should be based on the assessable deposits as at the close of business on the last working day of the preceding half-year. If the last working day of September/March is a public holiday under the Negotiable Instruments Act 1881 (XXVI of 1881) at the close of business on the preceding working day.

DI-01 for the half year ended/ending	Based on the assessable deposits as at the close of business of the preceding half-year	DI-01 & premium to be forwarded to the corporation on or before
(1)	(2)	(3)
March 2006	30th September 2005	30th November 2005
September 2006	31st March 2006	31st May 2006
March 2007	30th September 2006	30th November 2006
September 2007	31st March 2007	31st May 2007

Please note that this date should be furnished in DI-01 return against item 'I' i.e. DEPOSITS IN INDIA AS AT THE CLOSE OF BUSINESS ON THE LAST WORKING DAY OF MARCH/SEPTEMBER

(d) To avoid payment of interest, the return for April - September should be submitted before 31st May and the return for 'October - March' should be submitted before 30th November along with advance premium @5 ps. per Rs.100/- on the assessable deposits. For default in payment of premium, in terms of Regulation 20 of the DICGC General Regulations, 1961, penal interest will be charged at 8% above Bank Rate from the beginning of the half year till date of receipt of instrument in DICGC. The insured banks remitting premium through cheques/DDs/Pay Orders or electronic payment systems viz. RTGS etc. may ensure that the instruments /funds representing premium should reach DICGC on or before the due date. The instruments received at the Corporation after the due date will be treated as delayed payment and overdue interest will be payable by the insured bank. The formula for interest calculation is :

Interest Payable = Unpaid Premium X Penal Interest Rate X No. of days / 36500

(e) While remitting the premium amount for any half year please ensure that the amount due in the earlier Dr/Cr. Is duly taken into account and the total amount together with interest if any is remitted to the Corporation.

(f) Accounts of Foreign, Central and State Governments and those of other commercial, cooperative and Regional Rural Banks are to be EXCLUDED

EXPLANATORY NOTES ON DI-02 RETURNS

(1)

The DI-02 return prescribed in terms of provisions of Section 34(1) of the DICGC Act, 1961 is a yearly return required to be furnished by all the registered insured Banks

(2)

This return should reach the DICGC (DID) Head Office, Mumbai on or before 31st October every year through a separate forwarding letter.

(3)

The return in the DI-02 format is to be signed by two authorised officials and is required to be submitted in duplicate. The duplicate copy being the exact true copy of the original.

(4)

It is a statement showing distribution of deposits accounts according to their size as on the last working day of the month of SEPTEMBER.

(5)

If the last working day of SEPTEMBER is a Public Holiday under the Negotiable Instruments Act, 1881 (XXVI of 1881) then the statement should indicate the position as at the close of business on the preceding working day.

(6)

The following important points are required to be carefully noted while compiling the DI-02 return:

(i) Accounts of Foreign, Central and State Governments and those of other commercial, cooperative and Regional Rural Banks are to be EXCLUDED.

(ii) The amount of deposits are to be indicated in thousands of rupees, in other words three zeros are to be omitted

Example

(a)	Rs.28,95,235.00 is to be indicated as			2	8	9	5
(b)	Rs.2,55,37,932.00 is to be indicated as		2	5	5	3	8
(c)	Rs.38,44,54,500.00 is to be indicated as	3	8	4	4	5	5

(iii)In view of the prescribed range of amount of deposits required to be indicated at items (I) to (iv) of the statement, there would necessarily be minimum/maximum amount of deposits in relation to the number of accounts under each of the four categories:

	Range of Deposit	No. of Accounts	Amount of deposits (Rupees in thousands)
			Minimum															Maximum
1)	Upto & inclusive of Rs.100,000	Say 2550	---															2550 X 100,000 = 25,50,00,000
																				2	5	5	0	0	0
																		i.e. No. of A/cs. X 100,000
2)	Over Rs.100000 & upto Rs.150,000	Say 328050	328050 X 100001 = 32805328050															328050 X 150000 = 49207500000
			3		2		8		0		5		3		2		8	4	9	2	0	7	5	0	0
			i.e. No. of A/cs. X 100001															i.e. No. of A/cs X 150000
3)	Over Rs.150000 & upto Rs.200000	Say 112930	112930 X 150001 = 16939612930															112930 X 200000 = 22586000000
			1	6		9		3		9		6		1		3		2	2	5	8	6	0	0	0
			i.e. No. of A/c. X 150001															i.e. No. of A/cs. X 200000
4)	Over Rs.200,000	Say 89534	89534 x 200001 = 17906889534
			1	7		9		0		6		8		9		0
			i.e. No. of A/cs. X 200001

It is, therefore , essential for every bank to cross verify the amount of deposits indicated at all the four items of the statement in relation to the number of accounts indicated against each item.