Hello mani-rai,

At the moment, according to Deposit and Credit Guarantee Fund, if your bank is either commercial bank or development bank or finance company or micro credit development bank, then your deposit is insured upto NRS 3,00,000 per depositor per bank. This means:

• If you had NRS 25,000 in your deposit and your bank goes bankrupt, then you will get your full amount without problem.
• If you had NRS 4,00,000 in your deposit and your bank goes bankrupt, then you will get only NRS 3,00,000. You will not be given your full amount.
• If you had NRS 25,000 in two banks and both of your bank goes bankrupt, then you will get your full amount without problem according to my understanding from Deposit and Credit Guarantee Fund website. I might be wrong but, I have read their statement thoroughly. So, I shouldn't be wrong.
• If you had NRS 4,00,000 in two banks and both of your bank goes bankrupt, then you will get NRS 3,00,000 from each of your bank with total NRS 6,00,000 according to my understanding from Deposit and Credit Guarantee Fund website. I might be wrong but, I have read their statement thoroughly. So, I shouldn't be wrong.
• Also note that your deposit insurance is combined with fixed deposit. If you had 2,00,000 in your saving account and 2,00,000 in your fixed deposit in same bank, then you will only get NRS 3,00,000. Insurance is covered combining all bank accounts you have in one bank.

Hope that helps.