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Infographic: What's the fuss about FRDI Bill?

FRDI Bill has triggered fear among depositors that their money won't be safe in banks anymore, but the government argues the bill is the need of the hour

Mudit Kapoor | Mohsin Sheikh | October 6, 2020 | Updated 18:07 IST
Infographic: What's the fuss about FRDI Bill?
Does India need FRDI bill?

The Financial Resolution and Deposit Insurance (FRDI) Bill was withdrawn in August 2018 after backlash over a 'bail-in' clause that allowed the use of depositors' money to settle liquidation claims. Even though the government said the bill intended to protect and enhance the depositors' rights, and introduce a resolution regime for financial firms, there were very few takers for the argument. This BusinessToday.In's infographic explains what's controversial behind the FRDI bill, and if it is needed at all.

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