The FRDI Bill safeguards depositors by protecting the value of the failing bank through speedy diagnosis and a deliberate resolution plan
Over the past few years, 200 million people in India have opened their first bank account, more than 15 million have purchased their first insurance policy, and more than 1 million have made their first digital financial transaction. As we continue to move towards formalization and inclusion, we must understand if the ecosystem has evolved sufficiently to provide the requisite trust and confidence to the common citizen. A potential new legislation in form of the Financial Resolution and Deposit Insurance (FRDI) Bill would offer concrete steps in helping build consumer trust in the financial sector.
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