Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill

Posted on:15 Jun 2017 09:15:45
Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill
15 June 2017 Current Affairs:

  • The Union Cabinet approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017.

  • This bill will provide a comprehensive resolution framework for financial sector entities to deal with bankruptcy situation in banks, insurance companies, and other entities.

  • The bill is proposed to strengthen and streamline the current framework of deposit insurance and to decrease the time and costs involved in resolving distressed financial entities. 


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