Money & Banking

FRDI panel will stay put till next session

Our Bureau New Delhi | Updated on January 09, 2018

The Joint Committee on the Financial Resolution and Deposit Insurance Bill, headed by senior BJP MP Bhupender Yadav, got an extension till the first day of the Budget session.

The panel has been discussing the FRDI Bill, having heard the views of various ministries, bank chairpersons and experts on it. A delegation of various associations of bank officers had also met the panel recently.

The Centre has been maintaining that it is trying to expedite the passage of the FRDI Bill. However, the Opposition has strongly criticised it. The Left parties had recently said the Bill does not have provisions to protect the earnings of crores of depositors.

The panel members had insisted the Bill needs threadbare discussion, and that it requires more time to hear the views of various stakeholders. It has held five meetings so far.

Published on December 15, 2017

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