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: 73
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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 88
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: 74
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 74
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 88
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) {

	'status' => (int) 200,
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		&#039;title&#039; =&gt; &#039;FRDI Bill: Depositors&amp;#039; money safer than ever, says Arun Jaitley -Avishek G Dastidar&#039;,
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;
&lt;br /&gt;
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;
&lt;br /&gt;
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;
&lt;br /&gt;
Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;&lt;br /&gt;The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;&lt;br /&gt;Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;&lt;br /&gt;Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot; title=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;
&lt;br /&gt;
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;
&lt;br /&gt;
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;
&lt;br /&gt;
Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Indian Express, 22 December, 2017, http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&#039;,
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-PTI

FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;&lt;br /&gt;The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;&lt;br /&gt;Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;&lt;br /&gt;Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot; title=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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                <strong>FRDI Bill: Depositors&#039; money safer than ever, says Arun Jaitley -Avishek G Dastidar</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends <br /></em><br />The Money of all depositors in public-sector banks will be protected and the level of protection will be &ldquo;much higher than the level which existed till today,&rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.<br /><br />&ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&rdquo; he said.<br /><br />The FRDI Bill 2017, introduced in Lok Sabha in August, has a &ldquo;bail-in&rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.<br /><br />The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.<br /><br />&ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&rdquo; Jaitley said.<br /><br />The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &lsquo;Resolution Corporation&rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &ldquo;writing down of the liabilities&rdquo;, a phrase some have interpreted as a &ldquo;bail-in&rdquo;.<br /><br />On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&rdquo; he said.<br /><br />Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &ldquo;Exports appear to be coming back,&rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.<br /><br />Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.<br /><br />Congress members had initially staged a walkout protesting against the Prime Minister&rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&rdquo;<br /><br />Please <a href="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/" title="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/">click here</a> to read more. <br /></div>               </font>
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;
&lt;br /&gt;
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;
&lt;br /&gt;
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;
&lt;br /&gt;
Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;&lt;br /&gt;The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;&lt;br /&gt;Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;&lt;br /&gt;Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot; title=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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	&#039;title&#039; =&gt; &#039;FRDI Bill: Depositors&amp;#039; money safer than ever, says Arun Jaitley -Avishek G Dastidar&#039;,
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;
&lt;br /&gt;
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;
&lt;br /&gt;
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;
&lt;br /&gt;
Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
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-PTI

FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;&lt;br /&gt;The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;&lt;br /&gt;Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;&lt;br /&gt;Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot; title=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
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FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

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                <strong>FRDI Bill: Depositors&#039; money safer than ever, says Arun Jaitley -Avishek G Dastidar</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends <br /></em><br />The Money of all depositors in public-sector banks will be protected and the level of protection will be &ldquo;much higher than the level which existed till today,&rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.<br /><br />&ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&rdquo; he said.<br /><br />The FRDI Bill 2017, introduced in Lok Sabha in August, has a &ldquo;bail-in&rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.<br /><br />The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.<br /><br />&ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&rdquo; Jaitley said.<br /><br />The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &lsquo;Resolution Corporation&rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &ldquo;writing down of the liabilities&rdquo;, a phrase some have interpreted as a &ldquo;bail-in&rdquo;.<br /><br />On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&rdquo; he said.<br /><br />Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &ldquo;Exports appear to be coming back,&rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.<br /><br />Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.<br /><br />Congress members had initially staged a walkout protesting against the Prime Minister&rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&rdquo;<br /><br />Please <a href="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/" title="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/">click here</a> to read more. <br /></div>               </font>
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;
&lt;br /&gt;
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;
&lt;br /&gt;
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;
&lt;br /&gt;
Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;br /&gt;&lt;br /&gt;&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;&lt;br /&gt;The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;&lt;br /&gt;The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;&lt;br /&gt;On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;&lt;br /&gt;Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;&lt;br /&gt;Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;&lt;br /&gt;Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot; title=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;em&gt;FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which existed till today,&amp;rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &amp;ldquo;bail-in&amp;rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.&lt;br /&gt;
&lt;br /&gt;
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.&lt;br /&gt;
&lt;br /&gt;
&amp;ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&amp;rdquo; Jaitley said.&lt;br /&gt;
&lt;br /&gt;
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &amp;lsquo;Resolution Corporation&amp;rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &amp;ldquo;writing down of the liabilities&amp;rdquo;, a phrase some have interpreted as a &amp;ldquo;bail-in&amp;rdquo;.&lt;br /&gt;
&lt;br /&gt;
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &amp;ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&amp;rdquo; he said.&lt;br /&gt;
&lt;br /&gt;
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &amp;ldquo;Exports appear to be coming back,&amp;rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.&lt;br /&gt;
&lt;br /&gt;
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.&lt;br /&gt;
&lt;br /&gt;
Congress members had initially staged a walkout protesting against the Prime Minister&amp;rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &amp;ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&amp;rdquo;&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
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-PTI

FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &amp;ldquo;much higher than the level which...&#039;
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FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

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                <strong>FRDI Bill: Depositors&#039; money safer than ever, says Arun Jaitley -Avishek G Dastidar</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends <br /></em><br />The Money of all depositors in public-sector banks will be protected and the level of protection will be &ldquo;much higher than the level which existed till today,&rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.<br /><br />&ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&rdquo; he said.<br /><br />The FRDI Bill 2017, introduced in Lok Sabha in August, has a &ldquo;bail-in&rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.<br /><br />The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.<br /><br />&ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&rdquo; Jaitley said.<br /><br />The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &lsquo;Resolution Corporation&rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &ldquo;writing down of the liabilities&rdquo;, a phrase some have interpreted as a &ldquo;bail-in&rdquo;.<br /><br />On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&rdquo; he said.<br /><br />Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &ldquo;Exports appear to be coming back,&rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.<br /><br />Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.<br /><br />Congress members had initially staged a walkout protesting against the Prime Minister&rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&rdquo;<br /><br />Please <a href="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/" title="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/">click here</a> to read more. <br /></div>               </font>
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-PTI<br />
<br />
<em>FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends <br />
</em><br />
The Money of all depositors in public-sector banks will be protected and the level of protection will be &ldquo;much higher than the level which existed till today,&rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.<br />
<br />
&ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&rdquo; he said.<br />
<br />
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &ldquo;bail-in&rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.<br />
<br />
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.<br />
<br />
&ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&rdquo; Jaitley said.<br />
<br />
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &lsquo;Resolution Corporation&rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &ldquo;writing down of the liabilities&rdquo;, a phrase some have interpreted as a &ldquo;bail-in&rdquo;.<br />
<br />
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&rdquo; he said.<br />
<br />
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &ldquo;Exports appear to be coming back,&rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.<br />
<br />
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.<br />
<br />
Congress members had initially staged a walkout protesting against the Prime Minister&rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&rdquo;<br />
<br />
Please <a href="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/">click here</a> to read more. <br />
</div>',
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-PTI<br />
<br />
<em>FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends <br />
</em><br />
The Money of all depositors in public-sector banks will be protected and the level of protection will be &ldquo;much higher than the level which existed till today,&rdquo; Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis.<br />
<br />
&ldquo;When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,&rdquo; he said.<br />
<br />
The FRDI Bill 2017, introduced in Lok Sabha in August, has a &ldquo;bail-in&rdquo; clause, which some experts say brings potential harm to deposits in the form of savings accounts.<br />
<br />
The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause.<br />
<br />
&ldquo;What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,&rdquo; Jaitley said.<br />
<br />
The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The &lsquo;Resolution Corporation&rsquo;, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by &ldquo;writing down of the liabilities&rdquo;, a phrase some have interpreted as a &ldquo;bail-in&rdquo;.<br />
<br />
On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. &ldquo;Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,&rdquo; he said.<br />
<br />
Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. &ldquo;Exports appear to be coming back,&rdquo; he said adding that in November exports were 30%, then in September and October they were at 26%.<br />
<br />
Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing.<br />
<br />
Congress members had initially staged a walkout protesting against the Prime Minister&rsquo;s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, &ldquo;We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.&rdquo;<br />
<br />
Please <a href="http://indianexpress.com/article/india/frdi-bill-depositors-money-safer-than-ever-govt-arun-jaitley-4993645/">click here</a> to read more. <br />
</div>',
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-PTI

FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends 

The Money of all depositors in public-sector banks will be protected and the level of protection will be &ldquo;much higher than the level which...'
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FRDI Bill: Depositors' money safer than ever, says Arun Jaitley -Avishek G Dastidar

-PTI FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends The Money of all depositors in public-sector banks will be protected and the level of protection will be “much higher than the level which existed till today,” Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary Demand for Grants 2017-18, Jaitley said there was no need to create a fear psychosis. “When the [FRDI] Bill comes before the joint committee, please discuss this. There is 2011 G-20 commitment when UPA was in power and that was offtake of 2008 global crisis when the Lehman Brothers collapsed,” he said. The FRDI Bill 2017, introduced in Lok Sabha in August, has a “bail-in” clause, which some experts say brings potential harm to deposits in the form of savings accounts. The bill is currently undergoing scrutiny by a joint parliamentary committee. Several people, including West Bengal Chief Minister Mamata Banerjee, has written to Jaitley expressing concern about the so-called bail-in clause. “What do we do with that clause [bail-in]? The committee has wise people which will make some recommendations. We will consider that. We are open-minded. We are very clear and the level of protection the government would want would be much higher than level which existed till today,” Jaitley said. The FRDI Bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services (NBFC) companies and stock exchanges in case of insolvency. The ‘Resolution Corporation’, proposed in the draft bill, would look after the process and prevent the banks from going bankrupt. It would do this by “writing down of the liabilities”, a phrase some have interpreted as a “bail-in”. On the GDP growth numbers, Jaitley said any major economic reform, such as demonetisation and GST rollout, was bound to cause a dip in the GDP numbers that year. Drawing parallels with the 1991 move of economic liberalisation, he said the GDP growth had dipped the following year. “Manufacturing activity was low in the quarter around GST rollout because manufacturers were de-stocking before GST and were producing less,” he said. Speaking about the state of the economy, Jaitley said the Indian economy growing at 7-8% is the new normal and that inflation is under control. “Exports appear to be coming back,” he said adding that in November exports were 30%, then in September and October they were at 26%. Earlier, the Opposition had attacked the government over the impact of demonetisation and GST, saying the economy was in bad shape, the growth rate had slowed down and joblessness was growing. Congress members had initially staged a walkout protesting against the Prime Minister’s remarks about Manmohan Singh, but Leader of Congress Mallikarjun Kharge said, “We are participating [in the discussion] because it is a constitutional matter, but our agitation and walkout continues.” Please click here to read more.