The Deposit Insurance and Credit Guarantee Corporation (DICGC) on April 11, 2025, issued a circular regarding the revised procedure of submission of Deposit Insurance (DI) Returns, Computation and Remittance of DI premiums, and Certification by Statutory Auditor to DICGC.
The following has been stated: -
•DICGC has introduced a new system, Samyak (NIAS), integrating the submission of Deposit Insurance Returns, premium calculation/payment, and statutory auditor certification.
•Insured banks must register on NIAS, manage user roles (AS1, AS2, Payment Initiator, Statutory Auditor), and submit all compliance digitally.
•NIAS captures key bank and user details, including Aadhaar-linked contact info for e-signature authentication.
•Once NIAS is launched, scanned DI Returns and SAC submissions will be discontinued, and the link will be provided on the DICGC website. Until then, banks should continue using the existing IASS process for compliance.
•Non-compliance or misreporting will attract penal action under Section 47 of the DICGC Act, 1961.
The detailed circular is given in the document below.
[Circular No. CO.DICG.IOD.No.S52/04-01-046/2025-2026]
