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FRDI Bill News
Govt to withdraw FRDI bill; writes to Parliament panel
Tue, Jul 31, 2018
The Union Cabinet had earlier this month decided to withdraw the legislation in view of the concerns expressed by certain sections of people, including politicians, over the 'bail-in' clause, which they feared would harm the interest of depositors.
Govt likely to withdraw controversial FRDI Bill in current Parl session
Wed, Jul 18, 2018
The government is likely to withdraw the bill from the Lok Sabha in the current session of Parliament, which ends on August 10.
Govt open to increase deposit insurance cap of Rs 1 lakh: Arun Jaitley
Wed, Jan 03, 2018
Finance Minister Arun Jaitley today assured the Rajya Sabha that the government is considering putting in place a "much better" security measure for bank depositors and is open to suggestions for raising the deposit insurance limit from Rs 1 lakh currently.
Doubts over bail-in provisions of FRDI Bill misplaced: Jaitley
Tue, Jan 02, 2018
FRDI aims to bring in discipline among the financial service providers by initiating a limit on the use of public money to bail out distressed firms.
Panic over proposed FRDI Bill is misplaced: SBI Ecowrap
Thu, Dec 21, 2017
Seeking to clear the confusion in the public domain, the report said, "First, whether the concept of bail-in is justified in Indian context. Such strategy is similar to the strategies adopted by EU countries like Cyprus whose per capital income is 14 times higher than India.
FRDI Bill gets extension, may not come even in next Budget session
Tue, Dec 19, 2017
The bill proposes to create a framework for overseeing financial institutions such as banks, insurance companies, non-banking financial services companies and stock exchanges in case of insolvency.
FRDI Bill will establish ‘Resolution Corporation’ to monitor financial firms: SBI Ecowrap
Thu, Dec 14, 2017
The proposed Financial Resolution and Deposit Insurance (FRDI) Bill seeks to establish a ‘Resolution Corporation’ to monitor financial firms (along with regulators), and resolve them in case of failure, said the SBI Ecowrap report.
Govt will fully protect public deposits: Arun Jaitley
Tue, Dec 12, 2017
Seeking to allay concerns of depositors over provisions of a draft law, Finance Minister Arun Jaitley today said the government will fully protect public deposits in financial institutions even as he hinted at openness to changes in the proposed FRDI Bill.
Is govt mulling over raising protection on bank deposits beyond Rs 1 lakh?
Sat, Dec 09, 2017
Media reports have shed light on the likelihood of protection of bank deposits being raised with the upcoming FRDI bill.
Is your bank deposit safe? Know more about FRDI Bill & bail-in clause
Fri, Dec 08, 2017
FRDI Bill i.e. Financial Resolution and Deposit Insurance Bill 2017 aims to focus on finding a resolution in case of a rare event of a failure of any financial service provider like banks, insurance companies or a non-banking financial companies etc. At present the bill is pending with the standing committee and have not been enacted as a law.
FRDI Bill will protect the rights of depositors, says FM Jaitley
Thu, Dec 07, 2017
Apart from giving protection guarantee of Rs 1 lakh to depositors, the FRDI Bill will also look into the rights of uninsured depositors compared to the existing legal arrangements over the unsecured creditors and even government dues.