-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...

-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...

-The Hindu Senior citizens seek exception from registering biometrics in Banks Chennai: Many senior citizens visiting Banks for providing life certificate for pension and linking their Aadhaar numbers with bank accounts have been put to a lot of hardship. They complained that there was no common rule for Banks and each of them was following whatever pattern their head offices had decided. Pensioners Herbert Clay, 69, and his wife Annie Clay, 63, had...

-The Times of India NEW DELHI: The highlight of the gross domestic product (GDP) data for July-September quarter is the overall growth rate of 6.3 per cent, the first time pace of economic growth has increased in six quarters. It suggests that the marked slide we witnessed over the last year has finally stopped. However, a look at the disaggregated data shows that the economy is still struggling. A comparison of the...

-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...