What changed
Paragraph 10(14)(vii) of the SFB Financial Statements Directions now mandates that banks disclose in their annual report whether DICGC deposit insurance premium was paid within prescribed timelines. If not paid on time, the arrears must also be disclosed.
What it means for you
Small Finance Banks must now explicitly confirm DICGC premium compliance in annual reports, increasing transparency for depositors and regulators. Non-compliance becomes publicly visible, incentivizing timely payments and reducing deposit insurance risk.
What you must do
- Update annual report templates to include the new DICGC premium disclosure table with current and previous year columns.
- Ensure internal processes track DICGC premium payment dates and arrears for accurate reporting.
- Train finance and compliance teams on the new disclosure requirements effective April 1, 2026.
Who it affects
Small Finance Banks, SFB compliance and finance departments, DICGC
When does this amendment take effect?
The amendment comes into force from April 1, 2026.
What exactly must be disclosed in the annual report?
Banks must disclose whether DICGC insurance premium was paid within prescribed timelines. If there are arrears, those must also be disclosed.