-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...
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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 »A Dangerous Bill on Banks: Where Depositors Are Made to Pay For Corporate Defaulters -Prabhat Patnaik
-TheCitizen.in FRDI BIll will do irreparable damage to yet another institution of Indian economy NEW DELHI: The BJP government, it appears, cannot remain content without inflicting irreparable damage on the institutions of the Indian economy. Its latest move in this direction is the Financial Resolution and Deposit Insurance (FRDI) Bill which was introduced in Parliament on the last day of the winter session and is now with a Select Committee. What this Bill...
More »Govt unlikely to table FRDI Bill in budget session of parliament
-PTI The joint committee on the FRDI Bill has been granted an extension of time up to the last day of Budget Session 2018, speaker Sumitra Mahajan informed the Lok Sabha New Delhi: The Financial Resolution and Deposit Insurance Bill, or FRDI Bill, may not be introduced in Parliament even during the budget session, as the joint committee looking into it got an extension for submitting its report. Lok Sabha speaker Sumitra Mahajan...
More »FRDI Bill: Dispelling some myths about bail-in and other issues to allay depositors' concerns -Shohini Sengupta
-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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