Case-Insensitive List Search

Instead of String.IndexOf, use String.Equals to ensure you don't have partial matches. Also don't use FindAll as that goes through every element, use FindIndex (it stops on the first one it hits).

if(testList.FindIndex(x => x.Equals(keyword,  
    StringComparison.OrdinalIgnoreCase) ) != -1) 
    Console.WriteLine("Found in list"); 

Alternately use some LINQ methods (which also stops on the first one it hits)

if( testList.Any( s => s.Equals(keyword, StringComparison.OrdinalIgnoreCase) ) )
    Console.WriteLine("found in list");

I realise this is an old post, but just in case anyone else is looking, you can use Contains by providing the case insensitive string equality comparer like so:

using System.Linq;

// ...

if (testList.Contains(keyword, StringComparer.OrdinalIgnoreCase))
{
    Console.WriteLine("Keyword Exists");
}

This has been available since .net 2.0 according to msdn.

Based on Adam Sills answer above - here's a nice clean extensions method for Contains... :)

///----------------------------------------------------------------------
/// <summary>
/// Determines whether the specified list contains the matching string value
/// </summary>
/// <param name="list">The list.</param>
/// <param name="value">The value to match.</param>
/// <param name="ignoreCase">if set to <c>true</c> the case is ignored.</param>
/// <returns>
///   <c>true</c> if the specified list contais the matching string; otherwise, <c>false</c>.
/// </returns>
///----------------------------------------------------------------------
public static bool Contains(this List<string> list, string value, bool ignoreCase = false)
{
    return ignoreCase ?
        list.Any(s => s.Equals(value, StringComparison.OrdinalIgnoreCase)) :
        list.Contains(value);
}