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Finance Ministry invites comments/suggestions from stakeholders by October 14 2016 on the Report & Draft FRDI Bill

News and Press Release - Dated:- 28-9-2016 - Press Information Bureau Government of India Ministry of Finance 28-September-2016 16:57 IST The Finance Minster Shri Arun Jaitley in Para 90 of his Budget Speech 2016-17, had announced: A systemic vacuum exists with regard to bankruptcy situations in financial firms. A comprehensive Code on Resolution of Financial Firms will be introduced as a Bill in the Parliament during 2016-17. This Code will provide a specialised resolution mechanism to deal wit .....

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sector regulatory authorities and the Deposit Insurance and Credit Guarantee Corporation with instructions to submit a Report and a draft Code. The Committee has submitted its Report and a Draft Bill known as The Financial Resolution and Deposit Insurance Bill, 2016 . A copy of the Report of the Committee and the Draft Bill along with an explanatory note explaining the key legal provisions of the Bill are hosted on the home page of the Ministry of Finance at >www. finmin.nic.in<. All stake .....

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