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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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St extends gains as oil stocks rally
DNMUM412831 | 4/25/2018 12:00:00 AM | Author : DNA Money Correspondent | WC :216

Mumbai: Equity markets continued rally for the second day on Tuesday amid volatility in the global markets. Heavy buying was evident in energy stocks even as global crude oil price rose to a three-year high.
The 30-share benchmark Sensex gained 1
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Moser Baer Solar assets on block
DNMUM412835 | 4/25/2018 12:00:00 AM | Author : Ateeq Shaikh | WC :263

The resolution professional for Moser Baer Solar has invited bids for assets of the renewable energy company that owes Rs 2,244 crore to eight lenders as on March 8.Among the creditors are Punjab National Bank (Rs 401.65 crore), State Bank of Indi

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Infy strategy to kick off new innings
DNMUM412842 | 4/25/2018 12:00:00 AM | Author : Edit | WC :206

Infosys’s strategy in digital, sales, talent re-skilling and localisation gives the Indian IT behemoth a perfect base to kick off its new innings. The strategy is geared towards building a services-centric business model, not in contrast to the one t
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IHH, Radiant revise offers for Fortis
DNMUM412843 | 4/25/2018 12:00:00 AM | Author : DNA Money Correspondent | WC :622

Mumbai: Suitors do not seem to give up on Fortis Healthcare.
IHH Healthcare Berhad, Asia’s largest healthcare network, has again come up with an offer for the Indian hospital chain, this time for Rs 4,000 crore, while KKR-backed Radiant Life Care
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