In most cases, Rs.5 lakh may not be enough to cover savings, particularly if customers have large sums set aside for retirement, education, or emergencies. While IndusInd Bank depositors are safe, as reassured by the RBI, there have been instances involving cooperative banks in recent years, where the central bank has imposed moratoriums or a freeze on withdrawals. This is why it’s advisable for depositors to have deposits in more than one bank.