How would you know if your bank is insured of loss of deposit (upto 5 Lakhs)?
The government while registering the banks (if they are insured banks) furnishes the banks with printed leaflets with information relating to the protection afforded by the government to the depositors. The insured banks are supposed to display these leaflets depositors are made aware of.
In case this information is easily available or the depositor has doubts if the bank is insured, the depositor should make specific enquiry from the branch official in this regard.
This information is as provided by the RBI