Deposit Insurance
Almost every country has a government agency that insures bank deposits and protects account holders from losses should their banks fail. In the U.K., it is the Financial Services Compensation Scheme, which covers up to £50,000 of each account holder's deposits in a single institution. In India, the Deposit Insurance and Credit Guarantee Corporation insures deposits made in all commercial banks and payable against bank failure. The maximum amount insured for each account holder is Rs. 100,000 (Rs. 1 lakh, or £1,377) in a single institution.
