HELP!! MY FLASH DRIVE IS NOT RECOGNISED BY MY LAPTOP

hi,
I am having a compaq presario laptop.I bought a Transcend mass storage flash drive(2GB) two months ago past few weeks it was working absolutely fine.
But now when i plug it inside the USB port of my laptop the light in USB is lit but the drive is not recognised by my laptop.
When I click on the drive it gives a message that “Please insert a disk into drive I:” and I am unable to open my drive.
Please helpme out of this!!
thanks