All bank fixed deposits and balance money in savings account should be insured by the bank
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My mother lost Rs. 1 lakh when Raghuvanshi Co-op Bank closed down (she had a fixed deposit of Rs. 2 lakh), as only Rs.1 lakh is currently insured. No common person should suffer as the banks themselves are culprits in most cases due to bad loans etc. Hence all the money of the account holder whether in Fixed Deposit or saving account must be insured so that the hard earned savings of the common people doesn't disappear in thin air. Many people specially senior citizens have suffered heavily due to the above stupid regulation of insurance of Rs. 1 lakh only by the banks. Hence all banks (nationalised, private & co-operative) must insure all the amounts (fixed deposits and saving account) that are with them.
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