Your money will be more secure in banks, Modi government's biggest decision
If someone becomes a law, what would happen if you do not have your right over money left in banks? One such bill is the FRDI bill. You can lose your right to money deposited in the bank as soon as this is done. But now the Modi government has canceled the bill. This will keep your money safe in banks and the rights to it will be yours as well. It is said that the Modi government has decided not to change a particular law. Now the money will be more secure. Because the government is a bank credit card holder. Under the law both the bank and the government are bound to protect your money.
What is the whole issue?
It is said that the government has decided to avoid the Financial Resolution and Deposit Insurance (FRDI) Bill-2007. This is the same bill that has led to different news media flowing through the past several days. According to media reports, if this bill is passed, the government's banks will lose their responsibility as a guarantor. Let us tell you that the bill has got the right to refuse to refund the money when the financial condition of the banks has worsened. As well, the bank could offer shares and bonds in exchange for it.
What is the FRDI bill:
The government prepared this bill to get rid of the defaulting position of banks. Under this, when the bank default, in that case the bank's rights on the bank becomes more and more like you. He could refuse to return your money till he could improve his position. Along with the money you give to bonds, securities, and shares. Bill proposed 'bill in' in the bill. The meaning of Bell-In is that their losses are reimbursed from the money of the creditors and the savings bank. Banks also get this officer from the bill in the bill.
Why the FRDI Bill:
According to the media report, the government has taken this decision for this reason. Because there was a misunderstanding among people across the country. People were feeling that if the law was passed by passing the bill, then the money would be sinking on the default of banks. According to the report, the bill was taken by bank unions and PSU insurance companies.
If someone becomes a law, what would happen if you do not have your right over money left in banks? One such bill is the FRDI bill. You can lose your right to money deposited in the bank as soon as this is done. But now the Modi government has canceled the bill. This will keep your money safe in banks and the rights to it will be yours as well. It is said that the Modi government has decided not to change a particular law. Now the money will be more secure. Because the government is a bank credit card holder. Under the law both the bank and the government are bound to protect your money.
What is the whole issue?
It is said that the government has decided to avoid the Financial Resolution and Deposit Insurance (FRDI) Bill-2007. This is the same bill that has led to different news media flowing through the past several days. According to media reports, if this bill is passed, the government's banks will lose their responsibility as a guarantor. Let us tell you that the bill has got the right to refuse to refund the money when the financial condition of the banks has worsened. As well, the bank could offer shares and bonds in exchange for it.
What is the FRDI bill:
The government prepared this bill to get rid of the defaulting position of banks. Under this, when the bank default, in that case the bank's rights on the bank becomes more and more like you. He could refuse to return your money till he could improve his position. Along with the money you give to bonds, securities, and shares. Bill proposed 'bill in' in the bill. The meaning of Bell-In is that their losses are reimbursed from the money of the creditors and the savings bank. Banks also get this officer from the bill in the bill.
Why the FRDI Bill:
According to the media report, the government has taken this decision for this reason. Because there was a misunderstanding among people across the country. People were feeling that if the law was passed by passing the bill, then the money would be sinking on the default of banks. According to the report, the bill was taken by bank unions and PSU insurance companies.
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