Assocham on Thursday urged the government to remove a clause in the Financial Resolution and Deposit Insurance (FRDA) Bill that seeks to treat bank depositors as other creditors and shareholders for “bail-in”. Assocham Secretary General D.S. Rawat said that in the Indian context, the concept of bail-in — especially by[Read More…]
Tag: Financial Resolution and Deposit Insurance
FRDI Bill will protect depositors’ interests: Government
The proposed Financial Resolution and Deposit Insurance (FRDI) Bill is designed to protect the rights of depositors, the government said on Thursday. The bill, which seeks to deal with the insolvency of financial service providers, had been tabled in August in the Lok Sabha and has currently been referred to[Read More…]