The objective of the government is to fully protect the interest of the financial institutions and the depositors, finance minister Arun Jaitley tweeted Wednesday. Photo: HTNew Delhi: Moving swiftly to address growing disquiet over provisions in the Financial Resolution and Deposit Insurance (FRDI) bill pending before Parliament, finance minister Arun Jaitley hinted that the government may backtrack on some of its controversial provisions. Taking to the microblogging site Twitter, Jaitley said: “The Financial Resolution and Deposit Insurance Bill, 2017 is pending before the Standing Committee. The objective of the Government is to fully protect the interest of the financial institutions and the depositors. The fact that no specific deposit insurance amount is prescribed has also been opposed by many stakeholders.

Source: Mint December 06, 2017 21:11 UTC