Time to go to FRDI Bill’s roots
Controversy around the bail-in clause aside, FRDI Bill's clauses 58 and 62(1) regarding governance of a firm declared critical are inherently conflicting
Much has been said and written about the Financial Resolution and Deposit Insurance Bill, 2017. The FRDI Bill was scheduled for discussion in Parliament this winter session but will now have to yield to more immediate concerns such as the Gujarat election results and the Central Bureau of Investigation special court’s verdict on 2G spectrum allocation. In addition, the joint committee of both Houses is yet to submit its report on the bill.