Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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Bonds to make up for shortfall being considered

New Delhi: To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism.

The newly..."/>
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Bonds to make up for shortfall being considered

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The newly..." />
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>Bonds to make up for shortfall being considered<br /><br />New Delhi: </em>To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism.<br /><br />The newly proposed resolution and insolvency framework for financial entities envisages the framing of a new scheme for refund of depositors&rsquo; monies in troubled banks, while providing higher protection to them, sources in the know said.<br /><br />The refund scheme would, among other things, provide for issuance of government bonds to depositors towards the shortfall, if any, on the amounts to be returned to depositors of troubled banks, an official said.<br /><br />&ldquo;What cannot be returned by way of cash immediately will be settled by way of bonds. The mechanism in the scheme will provide for return of monies part in cash and part in bonds,&rdquo; the official said.<br /><br />The latest issue haunting Finance Minister Arun Jaitley and his team is the security of depositors&rsquo; money under the proposed Financial Resolution and Deposit Insurance Bill.<br /><br />While Jaitley and others in the government have been assuring the safety of deposits, the Opposition has been raising questions about it.<br /><br />While the Bill has been referred to a Joint Committee of Parliament, which has been given time till the last date of Budget Session (likely to begin February 1) to submit its report, the government has been looking at options to address the contentious issue.<br /><br />The mechanism, according to sources, will give better protection for depositors as the current regime provides for only ?1 lakh insurance on deposits. Deposits over ?1 lakh have no protection and are with banks at the depositors&rsquo; own risk, a banking industry observer said.<br /><br />In the past, the Reserve Bank of India, had through the instrumentality of forced mergers come to the rescue of depositors of failed banks or troubled banks. The RBI may not have significant role in future if the new resolution and insolvency framework for financial entities were to get enacted by Parliament.<br /><br />The Centre has through the Financial Resolution and Deposit Insurance Bill sought to provide a separate resolution and insolvency framework for financial entities such as banks and insurance companies. <br /><br />Please <a href="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true" title="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <h1 class="cat-box-title">Failing banks: Govt looking at refund mechanism to protect depositors -Richa Mishra &amp; KR Srivats</h1>
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>Bonds to make up for shortfall being considered<br /><br />New Delhi: </em>To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism.<br /><br />The newly proposed resolution and insolvency framework for financial entities envisages the framing of a new scheme for refund of depositors&rsquo; monies in troubled banks, while providing higher protection to them, sources in the know said.<br /><br />The refund scheme would, among other things, provide for issuance of government bonds to depositors towards the shortfall, if any, on the amounts to be returned to depositors of troubled banks, an official said.<br /><br />&ldquo;What cannot be returned by way of cash immediately will be settled by way of bonds. The mechanism in the scheme will provide for return of monies part in cash and part in bonds,&rdquo; the official said.<br /><br />The latest issue haunting Finance Minister Arun Jaitley and his team is the security of depositors&rsquo; money under the proposed Financial Resolution and Deposit Insurance Bill.<br /><br />While Jaitley and others in the government have been assuring the safety of deposits, the Opposition has been raising questions about it.<br /><br />While the Bill has been referred to a Joint Committee of Parliament, which has been given time till the last date of Budget Session (likely to begin February 1) to submit its report, the government has been looking at options to address the contentious issue.<br /><br />The mechanism, according to sources, will give better protection for depositors as the current regime provides for only ?1 lakh insurance on deposits. Deposits over ?1 lakh have no protection and are with banks at the depositors&rsquo; own risk, a banking industry observer said.<br /><br />In the past, the Reserve Bank of India, had through the instrumentality of forced mergers come to the rescue of depositors of failed banks or troubled banks. The RBI may not have significant role in future if the new resolution and insolvency framework for financial entities were to get enacted by Parliament.<br /><br />The Centre has through the Financial Resolution and Deposit Insurance Bill sought to provide a separate resolution and insolvency framework for financial entities such as banks and insurance companies. <br /><br />Please <a href="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true" title="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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-The Hindu Business Line

Bonds to make up for shortfall being considered

New Delhi: To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism.

The newly..." />
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    <h1 class="cat-box-title">Failing banks: Govt looking at refund mechanism to protect depositors -Richa Mishra &amp; KR Srivats</h1>
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                            <div align="justify">-The Hindu Business Line<br /><br /><em>Bonds to make up for shortfall being considered<br /><br />New Delhi: </em>To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism.<br /><br />The newly proposed resolution and insolvency framework for financial entities envisages the framing of a new scheme for refund of depositors&rsquo; monies in troubled banks, while providing higher protection to them, sources in the know said.<br /><br />The refund scheme would, among other things, provide for issuance of government bonds to depositors towards the shortfall, if any, on the amounts to be returned to depositors of troubled banks, an official said.<br /><br />&ldquo;What cannot be returned by way of cash immediately will be settled by way of bonds. The mechanism in the scheme will provide for return of monies part in cash and part in bonds,&rdquo; the official said.<br /><br />The latest issue haunting Finance Minister Arun Jaitley and his team is the security of depositors&rsquo; money under the proposed Financial Resolution and Deposit Insurance Bill.<br /><br />While Jaitley and others in the government have been assuring the safety of deposits, the Opposition has been raising questions about it.<br /><br />While the Bill has been referred to a Joint Committee of Parliament, which has been given time till the last date of Budget Session (likely to begin February 1) to submit its report, the government has been looking at options to address the contentious issue.<br /><br />The mechanism, according to sources, will give better protection for depositors as the current regime provides for only ?1 lakh insurance on deposits. Deposits over ?1 lakh have no protection and are with banks at the depositors&rsquo; own risk, a banking industry observer said.<br /><br />In the past, the Reserve Bank of India, had through the instrumentality of forced mergers come to the rescue of depositors of failed banks or troubled banks. The RBI may not have significant role in future if the new resolution and insolvency framework for financial entities were to get enacted by Parliament.<br /><br />The Centre has through the Financial Resolution and Deposit Insurance Bill sought to provide a separate resolution and insolvency framework for financial entities such as banks and insurance companies. <br /><br />Please <a href="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true" title="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true" class="re" target="_blank">The Hindu Business Line, 31 December, 2017, http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true</a><div class="clear"></div>
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Failing banks: Govt looking at refund mechanism to protect depositors -Richa Mishra & KR Srivats

Published on Jan 1, 2018   Modified on Jan 1, 2018

-The Hindu Business Line Bonds to make up for shortfall being considered New Delhi: To ensure that a depositor does not lose his/her money during a resolution or insolvency process of any failing bank, the government was considering a refund mechanism. The newly proposed resolution and insolvency framework for financial entities envisages the framing of a new scheme for refund of depositors’ monies in troubled banks, while providing higher protection to them, sources in the know said. The refund scheme would, among other things, provide for issuance of government bonds to depositors towards the shortfall, if any, on the amounts to be returned to depositors of troubled banks, an official said. “What cannot be returned by way of cash immediately will be settled by way of bonds. The mechanism in the scheme will provide for return of monies part in cash and part in bonds,” the official said. The latest issue haunting Finance Minister Arun Jaitley and his team is the security of depositors’ money under the proposed Financial Resolution and Deposit Insurance Bill. While Jaitley and others in the government have been assuring the safety of deposits, the Opposition has been raising questions about it. While the Bill has been referred to a Joint Committee of Parliament, which has been given time till the last date of Budget Session (likely to begin February 1) to submit its report, the government has been looking at options to address the contentious issue. The mechanism, according to sources, will give better protection for depositors as the current regime provides for only ?1 lakh insurance on deposits. Deposits over ?1 lakh have no protection and are with banks at the depositors’ own risk, a banking industry observer said. In the past, the Reserve Bank of India, had through the instrumentality of forced mergers come to the rescue of depositors of failed banks or troubled banks. The RBI may not have significant role in future if the new resolution and insolvency framework for financial entities were to get enacted by Parliament. The Centre has through the Financial Resolution and Deposit Insurance Bill sought to provide a separate resolution and insolvency framework for financial entities such as banks and insurance companies. Please click here to read more.

The Hindu Business Line, 31 December, 2017, http://www.thehindubusinessline.com/money-and-banking/failing-banks-govt-looking-at-refund-mechanism-to-protect-depositors/article10007049.ece?homepage=true

Tagged with: Bank Deposits FRDI bill Financial Resolution and Deposit Insurance (FRDI) Bill Bonds Financial Resolution Corporation

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• FRDI Bill: Centre drags its feet in responding to House panel -AM Jigeesh

 

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