FRDI Bill deffered

New Delhi Mar 16: The passage of Crucial bills has been deferred in parliament today as the Joint Parliament committee had been granted extra time to submit its report on the FRDI Bill.

The JPC would submit its report on the bill in the monsoon session. The FRDI Bill aims to strengthen the financial institutions. The bill also proposes steps that would be taken to bankruptcy and insolvency in financial institutions such as banks, Insurance companies etc.

However many people have raised doubts about the bill and feared that the bill proposes to take away the deposits of the public in the bank .

Currently, a JPC of both houses is evaluating the bill and may suggest some amendments to the bill which may be passed in next session.