-The Indian Express As the government tries to allay swirling apprehensions, The Indian Express explains the background, aims and rationale of the proposed new FRDI law. Some provisions of The Financial Resolution and Deposit Insurance Bill, 2017, popularly referred to as the FRDI Bill, which was tabled in Parliament this August, have given rise to concerns over protection for bank deposits in the proposed law. An online petition against the Bill — “Do not...

-The Hindu Business Line The Centre and the JPC must allay depositor concerns on bail-in, in the FRDI Bill There is furious public debate around the Financial Resolution and Deposit Insurance (FRDI) Bill tabled in August and now under the scrutiny of a Joint Parliamentary Committee. The Bill seeks to lay down a clear resolution mechanism for Banks and financial firms in the case of default and this is welcome. But there’s...

-Livemint.com Maharashtra minister for cooperation Subhash Deshmukh admits to delays and problems in the implementation of farm loan waiver in the state Mumbai: When Maharashtra’s mega farm loan waiver was announced in June, it was initially planned to help 8.9 million indebted farmers. This was later wound down to cover 5.6 million farmers. Five months on, it has managed to reach just 1.7 million. State minister for co-operation Subhash Deshmukh said on Tuesday...

In a country where inter-departmental coordination hardly takes place in the government, a joint exercise undertaken by the Reserve Bank of India (RBI) and the National Crime Records Bureau (NCRB) is bearing fruits. The NCRB has started coordinating with the RBI for collection and sharing of Fake Indian Currency Note (FICN) data. The new tables, which have been introduced in the NCRB's annual publication on crime, reveal that although the...

-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...