Section 2(g) in The Deposit Insurance And Credit Guarantee Corporation Act, 1961
(g)"deposit" means the aggregate of the unpaid balances due to a depositor (other than a foreign Government, the Central Government, a State Government) [or a corresponding new bank] [Substituted by Act 5 of 1970, Section 20, for certain words (w.r.e.f. 19.7.1969).][or [a Regional Rural Bank or a banking company] [Substituted by Act 56 of 1968, Section 3, for certain words. ] [or a co-operative Bank] [Substituted by Act 56 of 1968, Section 3, for certain words. ] in respect of all his accounts, by whatever name called, [with a corresponding new bank or [with a Regional Rural Bank or with a banking company] [Substituted by Act 5 of 1970, Section 20, for certain words (w.r.e.f. 19.7.1969). ][or a co-operative bank] [Substituted by Act 5 of 1970, Section 20, for certain words (w.r.e.f. 19.7.1969). ] and includes credit balances in any cash credit account but does not include, -(i)[where a banking company [or a Regional Rural Bank] [Substituted by Act 5 of 1970, Section 20, for certain words (w.r.e.f. 19.7.1969).][or a corresponding new bank] [Substituted by Act 5 of 1970, Section 20, for certain words (w.r.e.f. 19.7.1969).] at the commencement of this Act, [or where an eligible co-operative bank at the commencement of the Deposit Insurance Corporation (Amendment) Act, 1968 (56 of 1968)] [Substituted by Act 56 of 1968, Section 3, for certain words. ] is working under a scheme of compromise or arrangement or of reconstruction sanctioned by any competent authority providing for the acceptance of fresh deposits, any amount due to the depositor in respect of his deposit before the date of the coming into force of the scheme to the extent it is not credited after the said date under the provisions of that scheme; or(i)an order for the winding up, or an order sanctioning a scheme of compromise or arrangement or of amalgamation or reconstruction, of the bank may be made only with the previous sanction in writing of the Reserve Bank;(ii)an order for the winding up of the bank shall be made if so required by the Reserve Bank in the circumstances referred to in section 13-D;(iii)if so required by the Reserve Bank in the public interest or for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or for securing the proper management of the bank, an order shall be made for the supersession of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an administrator therefor for such period or periods not exceeding five years in the aggregate as may from time to time be specified by the Reserve Bank;(iv)an order for the winding up of the bank or an order sanctioning a scheme of compromise or arrangement or of amalgamation or reconstruction or an order for the supersession of the committee of management or other managing body (by whatever name called) of the bank and the appointment of an administrator therefor made with the previous sanction in writing or on the requisition of the Reserve Bank shall not be liable to be called in question in any manner; and(v)the liquidator or the insured bank or the transferee bank, as the case may be, shall be under an obligation to repay the Corporation in the circumstances, to the extent and in the manner referred to in section 21;](ia)[ any amount due on account of any deposit with any insured bank which has been specifically exempted in this behalf by the Corporation with the previous approval of the Reserve Bank; or] [ Inserted by Act 81 of 1985, Section 5 (w.e.f. 1.5.1986).](ii)any amount due on account of any deposit received outside India;(gg)[ "eligible co-operative bank" means a co-operative bank the law for the time being governing which provides that- [ Inserted by Act 56 of 1968, Section 3.]
