Daily O

Why government's FRDI Bill will have huge implications for India like demonetisation and GST

After demonetisation and the Goods and Services Tax (GST), the Narendra Modi government is going to introduce yet another controversial measure: the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, purportedly to pave the way for a comprehensive resolution framework for specified financial sector entities. The bill is supposed to deal with bankruptcy situation in banks, insurance companies and financial sector entities. This is the first time that a legislation of this sort has been proposed in India.

Like the note-ban and GST, this measure too

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