-Outlook Scary Bail-in clause in FRDI Bill cleared by the Union Cabinet in June 2017 allows banks to finance themselves using depositors money. Priding themselves for being 'cash-less' post demonetization last year, some Indians may come face to face with a horrific post-apocalyptic future where they could be deposit-less too. Yes, this could be a reality unless the government of the day removes the unholy 'bail-in' clause that theoretically allows beleaguered banks...
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Banks can wipe out your money -BR Muralidharan
-Deccan Chronicle Bail-in clause in the proposed law can make you lose your rights on your bank deposits. As part of a host of banking reforms, the Central government has approved a bill in June 2017 to enact a new law framing rules for the resolution of failing banks, whose details that surfaced on social media made all bank depositors a worried lot. If the government goes ahead with this move, it...
More »Return to Alma Ata -Ritu Priya
-The Indian Express India’s healthcare debate should go back to the 40-year-old declaration that accords centrality to the local medical worker. India’s healthcare crisis has evoked a policy debate with arguments being made in favour of and against the public and private sector. S.N. Mohanty (‘Fixing healthcare’, IE, November 11) summarises the arguments of both sides very well. He concludes that there is a need to “design the public health system around...
More »The Truth That GDP Figures Conceal -Bodapati Srujana
-Newsclick.in The estimated growth rate for the second quarter has been declared as 6.3%, but this is nothing that an average Indian should celebrate. The quick estimated growth rate of GDP for the second quarter (Q2) of 2017-18, has been declared as 6.3%, compared to 5.7% of the previous quarter (Q1). This is seen by many, including Mr Jaitley, as a sign that India’s economic growth is back on track. According to...
More »Concern over bail-in -Jayanta Roy Chowdhury
-The Telegraph New Delhi: Politicians of various stripes have started to raise red flags about a provision in a bill that the Narendra Modi government intends to move in the Lok Sabha in the upcoming winter session, which could theoretically allow beleaguered banks and financial institutions to scoop up depositors' money to stop them from going bust. It is called a "bail-in" - a concept coined during the European banking crisis of...
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