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What is the Kerala Co-operative Deposit Guarantee Fund Board?

The Kerala Co-operative Deposit Guarantee Fund Board is an institution constituted by the Government of Kerala to administer the Kerala Co-operative Deposit Guarantee Scheme, 2012. It ensures protection for deposits in co-operative societies.

Which societies are eligible to be enrolled under this scheme?

All co-operative societies under the control of the Registrar of Co-operative Societies that accept deposits from members are eligible, except those that are defunct, dormant, or under liquidation.

What is the main purpose of the Deposit Guarantee Scheme?

The purpose is to guarantee deposits made in co-operative societies, instilling confidence among depositors and encouraging more deposits into the co-operative sector.

How is the Deposit Guarantee Fund corpus created?

The fund’s corpus is built through contributions from societies at the rate of 10 paisa for every ₹100 (or part thereof) of deposits outstanding at the end of each financial year. Future contributions are based on incremental deposits.