• A maximum upto of ₹ 5,00,000 (Rs. Five lakhs) is insured for each depositor in a bank
• This insurance applies for the principal and interest amount held by a person in the same right and same capacity as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force

To know more on what is the meaning of deposits held in the same capacity and same right; and deposits held in different capacity and different check here

This information is as provided by the RBI