FRDI

Bank employees threaten strike against FRDI Bill

Bank employees threaten strike against FRDI Bill

Opposing the Financial Resolution and Deposit Insurance (FRDI) Bill, the All India Bank Employees Association (AIBEA) has said it is planning a strike if the Centre proceeds on the proposed legislation. In a statement issued late on Monday, the AIBEA said: “The bill has created widespread fear, apprehension and panic amongst the depositors that the […]

Why is everyone scared of the Financial Resolution and Deposit Insurance Bill?

Why is everyone scared of the Financial Resolution and Deposit Insurance Bill?

The Centre’s proposed Financial Resolution and Deposit Insurance Bill (FRDI) has launched a big scare among people as it purportedly allows failing banks to use depositors money to cut losses. An online petition by one Shilpa Shree at Change.org, titled ‘Do not use innocent depositors’ money to bail in mismanaged banks #NoBailIn’, has been signed […]