FRDI బిల్లు మళ్ళీ వస్తోంది, FSDR గా పేరు మార్చారు||FSDR bill and bank depositor's fears||
Following the recent meeting of the Financial Stability and Development Council (FSDC) held on 7 November 2019—that had the strengthening of the resolution framework of the financial sector of the country on its agenda—there is an emerging speculation about whether the current government will resurrect the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, particularly with reference to the banking sector. Recall that this government had revoked the bill within a year of its introduction in 2017, mainly due to the widespread scepticism about the “bail-in” clause in the bill, which allegedly can make the depositors of a failing financial institution share the burden of resolution cost by foregoing parts of their deposits with the institution. With household financial savings behaviour in India showing a skewed preference towards bank deposits in the last two decades, the security of these deposits is indeed a matter of significance.
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FRDI బిల్లు మళ్ళీ వస్తోంది, FSDR గా పేరు మార్చారు||FSDR bill and bank depositor's fears|| Following the recent meeting of the Financial Stability and Development Council (FSDC) held on 7 November 2019—that had the strengthening of the resolution framework of the financial sector of the country on its agenda—there is an emerging speculation about whether the current government will resurrect the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, particularly with reference to the banking sector. Recall that this government had revoked the bill within a year of its introduction in 2017, mainly due to the widespread scepticism about the “bail-in” clause in the bill, which allegedly can make the depositors of a failing financial institution share the burden of resolution cost by foregoing parts of their deposits with the institution. With household financial savings behaviour in India showing a skewed preference towards bank deposits in the last two decades, the security of these deposits is indeed a matter of significance.
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