Financial Fear of a Proposed Bill Looming Large over the Indian Depositors.
THE PROPOSED ‘FINANCIAL RESOLUTION & DEPOSIT INSURANCE BILL’ IS CREATING QUITE A BIT OF PANIC IN THE MINDS OF INDIAN DEPOSITORS. THE FINANCIAL FEAR OF PEOPLE IS THAT IT WOULD CREATE A PATH TOWARDS APPROPRIATION OF DEPOSITOR’S SAVINGS LYING IN THE BANKS.
Against the backdrop of the financial pain and problems demonetisation and GST caused to the Indians en mass for the purpose of ‘national interest’, the Indian depositor segment anyway mistrusts the Government and is wary of it right now. On top of that, this proposed piece of legislation is one the greatest financial fears, and looming pretty large!
WHAT IS THE PROPOSED BILL ALL ABOUT AND WHAT EXACTLY IS THE FEAR?
The proposed Financial Resolution and Deposit Insurance Act (FRDI) is essentially ideated to protect the important financial in
This story is from the April 2018 edition of Mad About Money.
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