Q1030. The New FRDI Bill 2017 Bank Bail-in Clause a matter of concern for both NRI and domestic bank account holders who worry

Question: Sir, I live in France and am interested in investing in Indian govt. Bonds. The recent FRDI bill that is still being considered discouraged me in investing in Fixed Deposits in Indian Banks. Wuld appreciate if you can advise me on that . Thank you. Regards

Answer: Financial Resolution and Deposit Insurance Bill 2017 (FRDI) has still not been finalized. The government is waiting for the recommendations of the Joint Committee of Parliament on the FRDI Bill. Some people have expressed concern on the bail-in clause of the FRDI 2017 bill and worry that their deposit money may end up being used to bail-in failing financial institutions. More details concerning NRIs and the proposed FRDI Bill as well as a copy of the bill proposal is posted on NRI Information. To view use the link provided: bail-in-clause-concern.htm

Information by Virendar Chand