New Delhi: The Financial Resolution and Deposit Insurance (FRDI) Bill is expected to be introduced in this winter session of Parliament. According to government sources, the Department of Economic Affairs will deliver the draft note of the bill to NITI Aayog, DFS and Department of Expenditure in four-five days. It is known that the upcoming session of Parliament is going to start on November 18.
River in South Korea is red with blood, know the whole matter
Under this, if a financial institution fails, depositors of such institutes are expected to be given deposit insurance ranging from 3 to 3.5 lakh. At present, depositors are given up to Rs 1 lakh only under the deposit insurance scheme. Not only this, but deposit insurance is also being churned by linking inflation to inflation.
Israeli airstrikes in South Gaza kills 6 members of same family
Given the current situation, it is very important to bring the FRDI bill in this winter session, as non-banking financial companies (NBFCs) like DHFL, IL&FS are struggling with the crisis. Along with this, the government has become more alert after the PMC bank scam. Depositors will definitely get some relief from this announcement. At present, no official information has been given by the government in this regard.
