Safety of investment in schedule bank

I mean at present being a statutory body, its fund is kept in nationalized banks  fixed deposits only, but if committee want to yeild higher rate of  interest on their Fixed Deposits, can they  transfer fund in scheduled bank's fixed deposits without any risk?. I am not talking about investment in stock market. Please guide.

My doubt is whether Investment in fixed deposit of scheduled bank  ( which includes private banks also) is as safe as fixed deposit of nationalized banks ( which includes only government banks)  or not?

 Whether investment in private scheduled bank's fixed deposit is at risk or safe?