Question

Under the Deposit Insurance and Credit Guarantee Corporation Act, 1961, each depositor in an insured bank is entitled to a maximum insurance cover of:

A ₹1,00,000 per depositor per bank for principal only, excluding interest
B ₹5,00,000 per depositor per bank covering both principal and interest, held in the same right and same capacity
C ₹2,00,000 per depositor per bank for savings and fixed deposits combined
D ₹5,00,000 per depositor for all banks combined, not per individual bank
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