All Bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions as under: “The DICGC insures all deposits such as savings, fixed, current, recurring, etc. Each depositor in a Bank is insured up to a maximum of Rs.5,00,000/- (Rupees Five Lakh only) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of Bank’s licence or the date on which the scheme of amalgamation/ merger/ reconstruction comes into force.
