Dr P. W. Borgaonkar
In your write up ”The DICGC insures all bank deposits, such as saving, fixed, current, recurring for up to the limit of Rs. 100,000 of each deposit in a bank” Here I would like to know the meaning of “each deposit in a bank”
For ex- a person named “X” deposits Rs 200000/- 4 times( 4 FD receipts) that is total Rs800000/- then the DICGC will insure Rs 400000 for each FD ,or only treat him as one person / customer and insurance will be only for Rs 100000 for total cumulative Rs 800000?
I C Naik
Ceiling of Rs 100000 is per person irrespective of number and categories of Deposits.
