-Scroll.in The Insolvency and Banking Code was brought in as a law in May 2016 to resolve cases of unpaid debts by companies. It allows creditors to initiate insolvency proceedings against defaulting companies so as to recover their money. The code was thought necessary because existing systems of dealing with insolvent companies had failed to deliver, with cases dragging on for years without result. The code sets up an Insolvency and Bankruptcy...
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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...
More »Poll setback in Gujarat's cotton belt worries Maharashtra BJP -Abhiram Ghadyalpatil
-Livemint.com In Gujarat elections, BJP won 23 seats in cotton cultivation areas, while the Congress took 30 The ruling Bharatiya Janata Party (BJP) in Maharashtra is worried about the electoral reversals the party suffered in rural Gujarat, especially the cotton-growing parts. Results of the Gujarat assembly elections announced on Monday showed the Congress made significant gains in the Saurashtra-Kutch region and north Gujarat where cotton and groundnut are the main cash crops. In...
More »FRDI: Grossly at Odds with the Indian Financial System -Sucheta Dalal
-MoneyLife.in The government’s penchant for painting all legitimate questions about its faulty policy-making as scaremongering or anti-national is getting rather irksome. Prime minister Narendra Modi (at the FICCI annual general meeting) and finance minister Arun Jaitley have both responded to fears over the implications of the Financial Resolution and Deposit Insurance Bill (FRDI Bill) , 2017, by lashing out at critics and reassuring people that the government will protect bank deposits....
More »Is the Modi Government Hiding More Than What It Is Revealing With the RTI Act? -MM Ansari
-TheWire.in The Right to Information Act has not been implemented in letter and spirit, which is why the number of RTI appeals and complaints with the Central Information Commission is growing. The Narendra Modi government has made an oft-repeated commitment to promote transparency and participatory decision-making processes to contain the scourge of corruption in public life. While the Right to Information (RTI) Act is used for promoting free flow of information, the...
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