(1) The balance-sheet and accounts of the Corporation shall be prepared and maintained in such form and manner as may be prescribed.
(2) The Board shall cause the books and accounts of the Corporation to be balanced and closed as on the 31st day of December 1[or such other date in each year as the Central Government may, by notification in the Official Gazette, specify]:
2[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provision as it considers necessary or expedient for the balancing and closing of, or for other matters relating to, the books or accounts in respect of the concerned years.]
(2) The Board shall cause the books and accounts of the Corporation to be balanced and closed as on the 31st day of December 1[or such other date in each year as the Central Government may, by notification in the Official Gazette, specify]:
2[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provision as it considers necessary or expedient for the balancing and closing of, or for other matters relating to, the books or accounts in respect of the concerned years.]
Source footnotes
1. Subs. by Act 66 of 1988, s. 25, for ", each year" (w.e.f. 30-12-1988).2. Ins. by s. 25, ibid. (w.e.f. 30-12-1988).
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Section 1 · Short title, extent and commencement.Section 2 · Definition.Section 3 · Establishment and incorporation of Deposit Insurance Corporation.Section 4 · Capital of Corporation.Section 5 · Management of Corporation.Section 6 · Board of directors.Section 7 · Meetings of Board.Section 8 · Committees of Corporation.India Code, Government of India. Text fetched 22 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.