UncategorizedDecember 11, 2017by Monika Halan0FRDI bill: Your deposits are safe and banks cannot use them without your consent

My #HT column on why the cynical commentary about the #FRDI Bill is wrong. Bank deposit insurance will continue and people are likely to be better off than they are today

Bank deposits are the one true friend of a middle class Indian and any threat to their safety is terribly upsetting. The government will introduce a new bill in Parliament in the winter session called the Financial Resolution and Deposit Insurance (FRDI) bill. One section of this bill is causing bank depositors to fear for the safety of their money. I read the bill over the weekend and this is my understanding of what the aim of the bill is and what it means for you.

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