Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsA foreign-currency balance is not automatically covered—or automatically excluded—by DICGC insurance just because of its denomination. DICGC excludes deposits received outside India, and its explanatory notes specifically list FCNR account balances among exempted deposits. Check that your bank is insured, then ask it to confirm your account type, where the deposit was received or booked, and how DICGC classifies it.
Is my foreign-currency deposit covered by DICGC?
The answer depends on the account’s classification and the circumstances of the deposit, not currency denomination alone. DICGC’s FAQ excludes “any amount due on account of any deposit received outside India.” Its explanatory notes also specifically name balances held in FCNR accounts among exempted deposits. DICGC’s FAQ and explanatory notes do not establish a blanket rule that every foreign-currency deposit is excluded or that every such deposit is covered.
For an account-specific answer, verify the bank and ask the bank to identify the account classification and where it considers the deposit to have been received or booked. Request the response in writing if the classification affects your decision.
How to check your account’s status
- Check whether the bank is insured. Search the institution in DICGC’s current insured-bank list. If you cannot confirm its status, ask a branch official; DICGC advises depositors to make a specific enquiry with the branch when in doubt.
- Identify the account type. Ask whether the account is an FCNR account or another kind of foreign-currency account. FCNR balances are specifically listed among exempted deposits in DICGC’s explanatory notes.
- Ask where the deposit was received or booked. Ask the bank whether it treats the deposit as received outside India for DICGC purposes. DICGC’s broad exclusion concerns deposits received outside India; the cited materials do not give a detailed classification test for every cross-border arrangement.
- Request the DICGC classification. Ask whether the particular balance is treated as an eligible deposit or falls within an excluded category, and request the account classification in writing. If the bank’s answer is unclear, consult current DICGC rules or regulator guidance.
Does DICGC cover deposits received outside India?
No. DICGC’s FAQ lists any amount due on account of a deposit received outside India as an excluded type of deposit. The wording concerns where the deposit was received, rather than simply the currency in which the account is denominated. The official material cited here does not explain how every particular cross-border booking is classified, so the bank’s account-specific explanation matters.
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- Industry-leading counterfeit detection: Cassida patented "M" Algorithm, the Quattro offers outstanding counterfeit detection combined with the lowest "false reject" Rate of any manufacturer
- Four way scan: Insert a bill in any of the 4 possible orientations and the Quattro will verify its authenticity. Other detectors can only verify cash in one orientation
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Are FCNR deposits insured in India?
DICGC’s explanatory notes specifically list balances held in FCNR accounts among specifically exempted deposits. Do not assume an FCNR balance is eligible for DICGC cover. If you have an account described differently by your bank, ask it to confirm the formal account category and whether DICGC treats that specific balance as exempt.
How much DICGC insurance applies to eligible deposits?
For deposits that qualify, DICGC covers up to ₹5 lakh per depositor per bank, including principal and interest. Deposits held across branches of the same bank are aggregated when held in the same right and capacity. The limit does not make an otherwise excluded deposit eligible.
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- ALL-WAY ORIENTATION: The counterfeit money detector machine allows bills to be inserted in any orientation when checking for fraudulent bills.
- HIGH-LEVEL DETECTION: The money checker uses UV, MG, IR, Size, and Double Note sensors to detect counterfeit bills. Field-tested to 99% accuracy (results vary by currency and condition).
- INFRARED LIGHT: Most money detector pens and UV lights can only protect against a small number of fake bills. The KCD-1000 uses IR technology ensuring top-notch protection.
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DICGC states this limit in its FAQ and 2024–25 information leaflet. The leaflet is listed as dated 10 October 2025 on DICGC’s Public Awareness page.
Quick Recap
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- 【Double Anti-counterfeiting Identification】The Aneken counterfeit money detector with UV LED light made of the most advanced LED technology, it provides ultra-bright UV LED light to quickly identify the ultraviolet anti-counterfeiting features in the banknotes; the unique four-leaf clover watermark backlight can reveal the "hidden" watermark pattern inside the banknotes within one second, so as to achieve double anti-counterfeiting identification.
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- Quick and conclusive: confirm a bill's authenticity in less than a second with a clear "Pass" or "Fail" indication
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- Compact and lightweight, the InstaCheck will fit anywhere the authenticity of cash may need to be verified.
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