FRDI Bill

Saturday, Apr 20, 2024 | Last Update : 12:12 PM IST

The Bill was then referred to a joint House committee.

Days after hiking deposit insurance, FM says working on contentious FRDI Bill

The government was forced to withdraw the FRDI Bill from the House after Opposition members objected to it.

08 Feb 2020 11:53 AM

The Finance Ministry is also mulling to re-look at the most contentious Financial Resolution and Deposit Insurance (FRDI) Bill, a year after it was withdrawn by the government following a huge public outcry against controversial bail-in clause, which led to many depositors prematurely cancelling their bank deposits.

Centre plans new FRDI Bill, hike in deposit insurance

The source further said DICGC has proposed to hike deposit insurance to Rs 3 lakh from Rs 1 lakh, depending upon the demands of circumstances.

18 Oct 2019 2:26 AM

Nearly a year after introducing it in the Lok Sabha, the government today withdrew the Financial Resolution and Deposit Insurance (FRDI) Bill following widespread concerns over certain provisions in the proposed legislation.

Govt withdraws FRDI Bill from Lok Sabha

A proposal to withdraw the bill was on Tuesday moved by Minister of State for Finance Pon Radhakrishnan.

07 Aug 2018 2:40 PM

Congress workers shouting slogans in front of RBI office during a protest against the Central Government over FRDI Bill, in Kolkata. (Photo: Abhijit Mukherjee)

Controversial FRDI Bill dropped

The contentious legislation was introduced in Upper House in Aug 2017.

19 Jul 2018 1:23 AM

The government is likely to withdraw the controversial FRDI Bill in the ongoing session of Parliament in view of concerns over the 'bail-in' clause, which is feared to harm the interest of depositors, sources said. (Representational image)

Govt likely to withdraw FRDI Bill in current Parliament session

The bill, introduced in the the lower house on August 11, 2017, has a 'bail-in' clause.

18 Jul 2018 7:54 PM

Printing of Rs 500 notes up, crisis ebbing, says govt

The government expects at least 80 per cent of ATMs to be functional from Thursday.

19 Apr 2018 2:00 AM

'Government should not push this bill anymore. It is not for common people but for filthy rich,' TMC MP Derek O' Brien said.

TMC dubs BJP-proposed FRDI Bill as 'Filthy Rich Defrauding Indians' Bill

The FRDI Bill involves laying out the rules regarding the winding up or revival of an ailing company.

18 Feb 2018 5:57 PM

West Bengal Chief Minister Mamata Banerjee (Photo: PTI)

VIP bank customers are looting country, says Mamata Banerjee

She has demanded a thorough and time-bound investigation into the fraud in state-owned Punjab National Bank.

17 Feb 2018 1:30 AM

Withdraw FRDI Bill, CM writes to Centre again

This is her second letter to the Centre demanding withdrawal of the FRDI Bill.

16 Feb 2018 1:23 AM

West Bengal Chief Minister Mamta Banerjee also ridiculed the 'Beti Bachao, Beti Padhao Yojana' and slammed the Modi government for allocating ‘paltry’ fund for the project. (Photo: File/PTI)

WB becomes first state to opt out of ‘Modicare’, Mamata vows not to pay for it

Addressing a rally in West Bengal, Mamata said the state will not 'waste' its hard-earned resources to contribute its share to the scheme.

14 Feb 2018 9:24 AM

No need for bail-in in 98 per cent cases, says Subhash Garg

The Joint Committee of Parliament has been asked to submit their report to the Parliament by the last day of the Budget Session, 2018.

04 Jan 2018 2:20 AM

Union Finance Minister Arun Jaitley (Photo: PTI)

Finance ministry defends ‘bail-in’, says needs prior consent

It said that bail-in amounts to liabilities’ holders bearing a part of the cost of resolution by reduction in their claims.

03 Jan 2018 1:00 AM

Congress protests against FRDI Bill

Led by Congress chief whip in the state assembly Manoj Chakraborty, several party MLAs and senior leaders participated in the protest rally.

27 Dec 2017 1:12 AM

Finance Minister Arun Jaitley (Photo: AP)

No need to create fear over FRDI Bill, says Arun Jaitley

The bill is currently undergoing scrutiny by a joint parliamentary committee.

22 Dec 2017 6:13 AM

Parliament is no longer the place where substantial matters of public interest are discussed or settled. (Photo: PTI)

Governance failing as Houses dysfunctional

Democracy is a system of government by compromises and accommodation.

21 Dec 2017 1:32 AM

Panic among the bank depositors has arisen largely due to ‘bail-in’ provisions in the FRDI Bill. (Photo:PTI)

Assocham seeks removal of 'bail-in' clause in FRDI Bill

Government is working to protect interest of bank customers and their deposits.

14 Dec 2017 6:22 PM

FRDI Bill to protect deposits, says PM Modi

Modi said that the government is taking steps to improve the condition of banks.

14 Dec 2017 3:15 AM

Govt will protect all deposits in banks, says Arun Jaitley

Says Centre will fully protect public deposits in financial institutions.

12 Dec 2017 1:13 AM

The finance ministry said that the bill is far more depositor-friendly than in many other countries which provide for statutory bail-in without consent of creditors and depositors.

FRDI bill won’t hurt depositors, claims Finance Ministry

The bill was presented in Lok Sabha in August before it was referred to a joint committee of Parliament.

08 Dec 2017 2:19 AM

The Bill also seeks to deal with insolvency of financial service providers.

FRDI Bill depositor friendly, provides more protection: Finance Ministry

Provisions in the FRDI Bill do not modify current protections for depositors adversely at all.

07 Dec 2017 4:21 PM

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Shobhaa De