-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 »Immunise your children or you won't get food RATions: Uttar Pradesh district threatens poor families -Priyanka Vora
-Scroll.in AdministRATions are not supposed to cut off RATions but health officials seem to think that the threat will work. Experts denounce the measure. “Tikkakaran nahin toh khadyadhan nahin.” No vaccination, no RATion. Rajwanti Devi Jaiswal, an Accredited Social Health Activist or ASHA in Uttar Pradesh’s Bahraich district repeated the slogan so often that it sounded like a chant. The district has one of the lowest child immunisation RATes in India –...
More »Tomato prices plunge to 50 paise a kg, leave farmers in tears in Andhra Pradesh
-The New Indian Express KURNOOL: Prices of tomatoes have crashed to as low as 50 paise per kg at Pattikonda and Alur wholesale markets of Kurnool district after a bumper harvest and low demand, leaving farmers in tears. After transporting the produce to the market by incurring a huge cost, the farmers come to know that the prices have slumped a new low. Not knowing what to do — whether...
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....
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