Finance, Forex and Investments

If Indian banks go bankrupt, am I insured?

1. If Indian banks ( both nationalised state banks and private Citibank,ICICI) go bankrupt, how much amount will I be insured for as per RBI ? Are term deposits insured too? ( upto wht amount)? 2. Since this is India, does RBI have any laws for limiting time period to recover the money ?

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