-Firstpost.com The Financial Resolution and Deposit Insurance (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...
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Bank depositors' interests will be protected, assures PM
-The Hindu Business Line Blames UPA for NPA mess; says industry bodies should have been more vigilant New Delhi: Prime Minister Narendra Modi did not mince words when he addressed industry captains at the 90th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry here on Wednesday. In a speech that lasted slightly over 45 minutes, Modi put to rest all concerns pertaining to use of individuals deposits for...
More »FRDI Bill: Understanding the basis of bail-in, and depositors' fear -Shaji Vikraman
-The Indian Express As the government tries to allay swirling apprehensions, The Indian Express explains the background, aims and rationale of the proposed new FRDI law. Some provisions of The Financial Resolution and Deposit Insurance Bill, 2017, popularly referred to as the FRDI Bill, which was tabled in Parliament this August, have given rise to concerns over protection for bank deposits in the proposed law. An online petition against the Bill — “Do not...
More »Crop insurance footprints increased but delayed claim payouts left farmers in crisis -Vishwa Mohan
-The Times of India NEW DELHI: New Delhi: New crop insurance scheme, launched in Kharif (summer-sown) season of 2016, has increased its footprints across the country with more area being covered in 2016-17 as compared to 2015-16 and 2014-15, but it has miles to go before it can actually bring relief to farmers due to current delay in claim disbursement. The claim settlement is not as fast as it was expected during...
More »Union Finance Minister Shri Arun Jaitley Holds Pre-Budget Consultation Meeting with the representatives of different Agriculture Groups
-Press Information Bureau/ Ministry of Finance The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that there is a need to conserve water, incentivize agro processing and promote balanced use of fertilizers in order to ensure higher agriculture productivity. The Finance Minister said that in order to achieve the goal of doubling the farmer’s income by 2022, there is need for better storage and marketing facilities for the...
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