Membership  of DICGC
Bank is member of Deposit Insurance and Credit Guarantee Corporation and it’s code No./Registration number is 43617/MH402. Bank cannot cancel its membership of DICGC and hence protection of Deposit insurance remains perpetual.

Secured Amount
Protection of deposit insurance is guaranteed for the amount up to ₨1.00 lakh inclusive of amount of interest   per person.  Every Bank who is member of DICGC can give guarantee of the above amount to its depositors. Deposits kept in-one bank in all schemes together of one person or his firm cumulative up to ₨1.00 lakh is protected.  For example- Shri Pandit has invested the following amount in different deposit   schemes of Youth Bank 

Out of above total amount of ₨ 1,22,000/- , ₨ 1.00 lakh  is only  protected.

If  one person is having  his  joint A/c  with many  persons in a bank or by clubbing  together  such deposits from it’s  various  branches and having   same serial of names  in series,  the amount  together  up to ₨ 1.00  Lakh  will only  be protected.
But, if  one person  has joint  A/c  with many persons in bank or by clubbing  together  such deposits from it’s   various   branches and having   different serial of names  in series  then each such deposit account will be  protected up to ₨ 1.00 lakh.  For example – A, B, C are three different  persons  and are having  their  four different joint  deposit accounts as ‘ABC’ , ‘CBA’ , ‘CAB’  and  ‘ACB’ . In that case,  each deposit  account is independently insured  up to ₨ 1.00 lakh. Thus  all the four accounts will get the benefit up to ₨ 1.00 lakh.
Premium of insurance is paid by Bank and hence there is no burden  of  premium  expenditure  on depositors.