-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...
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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...
More »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 »Jean Dreze, development economist, interviewed by Ankita Virmani (Firstpost.com)
-Firstpost.com Development economist Jean Dreze has been vociferous critic of the Narendra Modi government's demonetisation of Rs 500 and Rs 1,000 notes a year back. He had famously warned that "demonetisation in a booming economy is like shooting at the tyres of a racing car". A year on, it seems his caution has come true. In the first quarter of the current financial year, the GDP growth slowed to a three-year...
More »1,216.8 crore authentications: Govt swamps SC with UID data -Dhananjay Mahapatra
-The Times of India NEW DELHI: Bombarding the Supreme Court with statistics to convince it about ease of doing day-to-day activities with Aadhaar, the Centre said 118.64 crore Indians, which is 88% of the population, had obtained Aadhaar and they used it 1,216.8 crore times for authentication purposes. "As of today, the total number of Aadhaar-based authentication is 12,168,022,172. Therefore, the Indian population has used Aadhaar-based authentication over 1,216 crore times to...
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