Fixed deposit safety

Originally posted by : sachin ca-ipcc
	whether it is secured to invest in fd of private bank like idbi, ing vysaya etc . i mean if banks will bankrupt then wat can be happen??

> Each depositor in a bank is insured by Deposit Insurance and Credit Guarantee Corporation (DICGC) upto a maximum of Rs.1,00,000 for both principal and interest and paid back in the event of failure of the bank.
.
> It applies to all the banks operating in India including private sector.
.
> DICGC is a wholly owned subsidiary of the RBI.

mr. deepak, if I puts rs.5.00 lacs as FD in a bank which has given bankruftcy notice, then I am eligible for 1.00 lac with interest and balance rs.4.00 lacs?????????????????????? "theyvuda, like myself  who has saved money by locking mouth to hand, is to pay for them????? I am a aged person>>>>sekar