Q:

Where should I park my rainy-day / emergency fund?[INDIA]

I was looking at options for where I can put my emergency fund. I came across these questions during my search -  #1 and #2 - which are specifically for U.S. and Canada. 
I want to know what options I have for my emergency fund specific to India.

A:

The answers are pretty much the same;

Savings Account with any leading bank. One can access cash via ATM or Debit Cards immediately.
Fixed Deposits. It would take some time to liquidate them. Typically a visit to Bank is required. Some Banks allow them to be liquidate via Online. There is also Over draft against FD's that can be set-up
Debt Mutual Funds 

