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FRDI Bill may go back to the drawing table

DNMUM402610 | 12/8/2017 | Author : Manju AB | WC :547



Mumbai: The Financial Resolution and Deposit Insurance Bill (FRDI) 2017, which will be tabled in the winter session of the parliament, may get redrafted following concerns raised by the stakeholders.
The Joint Parliamentary Committee (JPC) which is considering the Bill has met 60 stakeholders, including the regulators — Reserve Bank of India, Sebi and Irda — apart from the nationalised and private banks, to get feedback on FRDI 2017.
JPC is looking at all aspects of the Bill to build a consensus. Major concern in the Bill is on the bail-in clause, which enables the resolution commission to utilise the money of depositors to bail out the banks if there is a need.
A JPC member told DNA Money, “The bail-in clause is only an enab
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