The Centre is working on the Financial Resolution and Deposit Insurance (FRDI) Bill, but there is no timeline for it to be tabled in Parliament, Finance Minister Nirmala Sitharaman said on Friday.
Sitharman’s comments come on the back of an increase in deposit insurance from ₹1 lakh to ₹5 lakh and the recent changes in the insolvency laws that include insolvency solutions for financial institutions.
The late Finance Minister, Arun Jaitley, had, in August 2017, introduced the FRDI Bill in the Lok Sabha. The Bill proposed a comprehensive resolution framework for revival or closure of financial institutions, including commercial banks, insurance companies, NBFCs and co-operative banks.
Esta historia es de la edición February 08, 2020 de The Hindu Business Line.
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