If the country becomes defaulting as per the downgrade by Moody's Ratings yesterday, I don't think even a Bank or a Finance company would secure any individual's deposits. The country risk was on the cards mainly stemming from the COVID19 shocks.
Bilateral negotiations will be the only surviving factor and heard that it is already being discussed with China and India. Please refer the following link
Today will be a ideal for high level of collection and increase your portfolio. The market could react a bit for the following news. However, what I feel is the ASI demand was primarily from Local investors up to now.