BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The FRDI Bill is part of a larger, more comprehensive approach by the Centre towards systematic resolution of all financial firms. FRDI stands for
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Financial Resolution and Deposit India
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Financial Resolution and Deposit International
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Financial Resolution and Deposit Initial
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Financial Resolution and Deposit Insurance Show Answer
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Explanation:
Detailed explanation-1: -The FRDI bill, 2017 was tabled in the Lok Sabha in August 2017, following which it was referred to the joint parliamentary committee. It was brought in to limit the fallout of the failure of institutions such as banks, insurance companies, non-banking financial companies, pension funds and stock exchanges.
Detailed explanation-2: -If the proposed Financial Resolution and Deposit Insurance (FRDI) Bill becomes an Act, the ‘bail-in’ clause may change the relationship between the customer and the bank. It would empower to cancel the liability owned by the bank or change the form of an existing liability to another security.
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