Cabinet clears proposal for Bill to deal with bankruptcy1 min read . Updated: 14 Jun 2017, 02:35 PM IST
The proposed Financial Resolution and Deposit Insurance Bill, 2017 will provide a comprehensive resolution framework to deal with bankruptcy in various entities
New Delhi: In line with the bankruptcy code for non-financial firms, the Cabinet on Wednesday approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017 that will provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.
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