Kerala Cooperative Deposit Guarantee Fund Board

Kerala Cooperative Deposit Guarantee Fund Board


Bank guarantee against fixed deposit is one of the biggest concerns of the depositors in the banking sector. They need to know about the deposit guarantee scheme of every bank to ensure that their deposits are safe in the banks.

Almost everyone knows about the insurance of deposit in the commercial banks. But most of the depositors don’t know the deposit guarantee fund in the cooperative sector. They think that cooperative bank fixed deposits are very risky and spread the message of withdrew from cooperative banks.

Friends, Cooperative banks or societies are the financial institutions giving the highest interest rates for fixed deposits in Kerala now. And also, it has deposit guarantee and no need of worry about risk.

Kerala Cooperative Deposit Guarantee Fund Board

The Kerala Cooperative Deposit Guarantee Fund Board is the board which gave guarantee for the deposits in the cooperative banks or societies. It was established under the G O P No: 3/2012 coop dated 11/01/2012 as per the provisions of Kerala Cooperative Societies Act, 1969 Section 57 B.


It is commonly known as KERALA COOPERATIVE DEPOSIT GUARANTEE SCHEME 2012. Every cooperative society which is working under the control of Registrar Cooperative Societies and accepts deposits should be a member of Kerala Cooperative Deposit Guarantee Fund Board. Guarantee for deposits except which are defunct or dormant or under liquidation.

Aim of deposit guarantee fund

Objective of deposit guarantee fund provide guarantee for the deposits for the deposits in cooperative societies and increase confidence of depositors.

You can contact directly the officials of Kerala Cooperative Deposit Guarantee Fund Board in the following address.

The Secretary – Treasurer / Joint Registrar
Kerala Cooperative Deposit Guarantee Fund Board
TC No: 251955 (4), Manjalikulam Road,
Thiruvananthapuram – 695001
Phone No: 0471 2320312

Functioning of deposit guarantee fund

 As per the Government order, the cooperative societies should maintain fluid resources for the smooth working as per the Rule 63 of Kerala Cooperative Societies Rules, 1969 and should have the facilities for safety of valuables and records

The board should constitute a fund for credit societies by the name The Deposit Guarantee Fund. The fund should be built up from the cooperative societies at the rate of 10 paisa per hundred rupees in the deposits of cooperative societies. 

The funds contributed like this deposited in the account of Secretary and Treasurer of Board in Kerala State Cooperative Bank and its branches or Government treasury. The deposit gets the interest of the fixed deposit interest rate at each time. It will be credited in the corpus of the fund.

The fund will be utilized for the settlement of claims of depositors in the cooperative societies which are guaranteed. The amount guaranteed per depositor shall not exceed Rs. 1 lakh. That means, every depositors are insured up to 1 lakh now. The insured amount can be higher in future. 

The audit of the fund should be conducted in every financial year as per rules and regulation and report should be published to members


Share this article to all depositors to increase their confidence in the deposits of the cooperative banks and cooperative societies. Cooperative banks and cooperative societies are the financial institutions which provides the maximum rate of interest among banks in Kerala because the interest rate in cooperative sector is decided by the cooperative registrar by law. Interest rate in banks are determined by the Reserve Bank of India.

Kerala Cooperative Deposit Guarantee Fund Board constituted by the gazette notification of the Kerala Government. The jurisdiction of the Kerala Cooperative Deposit Guarantee Fund Board is the whole Kerala state and there is no regional or branch office.

Organisation of Kerala Cooperative Deposit Guarantee Fund Board

1. Chairman of the board is the minister in charge of co-operation.
2. State Co-operative Union's chairman
3. Government nomination from PACS members -(4)
4. Government nomination from Non-Agricultural Credit Society member -(1)
5. Government nomination from committee of Employees Co-Operative Societies - (1)
6. Government nomination from Vanitha Co-Operative Societies - (1)
7. Government nomination from all other types of cooperative societies which accept deposits from             members - (1)
8. Cooperator nominated by the government - (1)
9. Secretary
10. Registrar of Co-Operative Societies
11. Cooperative Audit Director
12. Treasurer of the deposit guarantee fund board

Forms- Kerala Cooperative Deposit Guarantee Fund Board


List of Cooperative Societies registered in Kerala Cooperative Deposit Guarantee Fund Board

Click the link to check the cooperative societies registered under Kerala cooperative deposit guarantee fund board : https://keralaco-opdgfb.org/index.php/list-of-guarenteed-societies

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