by a Trustee Board. In case of winding up of an insured bank, every depositor of the bank will be paid an amount not exceeding to BDT 100,000 as per "The Bank Deposit Insurance Act 2000". China China recently introduced preliminary proposals for a bank deposit insurance system, which will eventually cover all individual bank accounts for up to CNY 500,000. With the vast majority of Chinese savers holding far less than the maximum, and the central bank has calculated that 99.6% of depositors will be protected in full. The plan is expected to take effect in January 2015, and is intended by Chinese officials to increase certainty and help customers better assess risks and protect the nation's financial stability in the event of a crisis. China has one of the world's biggest deposit bases and as of October, bank deposits totaled about $18.2 trillion. Hong Kong Hong Kong Deposit Protection Board is an independent and statutory institution formed to manage and supervise the operation of Deposit Protection Scheme. The maximum protection amount of deposit was HK$100,000 in 2006 (when the Hong Kong Deposit Protection Board was set up), it is now with a limit up to HK$500,000 (or equivalent in RMB or other foreign currency). India India introduced Deposit Insurance in 1962. The Deposit Insurance Corporation commenced functioning on 1 January 1962, under the aegis of the Reserve Bank of India (RBI). 1971 witnessed the establishment of another institution, the Credit Guarantee Corporation of India Ltd. (CGCI). In 1978, the DIC and the CGCI were merged to form the Deposit Insurance and Credit Guarantee Corporation (DICGC). Deposit insurance was hiked from ₹100,000 (one lakh rupees, approximately $1,325 as of March 2020) to ₹500,000 (5 lakh rupees, approximately $6,625 as of March 2020) in 2020. Indonesia Deposits in Indonesia is covered by Indonesia Deposit Insurance Corporation (IDIC) (Indonesian: Lembaga Penjamin Simpanan (LPS) ). IDIC is a legal independent institution which established based on the Law No. 24 of 2004 and in effect since 22 September 2005. It is a continuation and a perfection of government's deposit insurance program regarding blanket guarantee after Asian Financial Crisis during the year 1998 to year 2005. The most significant change on deposit insurance program is the discarding of blanket guarantee, which deemed could initiate moral hazard, and becoming the limited guarantee. Currently, the maximum amount of deposit insured is IDR 2,000,000,000 per depositor per