No decision taken to reintroduce the FRDI Bill, says Finance Ministry

The government had withdrawn the FRDI Bill in August 2018 for further comprehensive examination and reconsideration of the subject

The government has not taken any decision to reintroduce the controversial Financial Resolution and Deposit Insurance Bill (FRDI Bill), the Finance Ministry said on Monday.

The Financial Resolution and Deposit Insurance Bill, 2017, was introduced in the Lok Sabha on August 10, 2017, and, thereafter, was referred to the Joint Committee of Parliament for examination and report thereon, the ministry said in a statement.

However, after a year, the government decided to withdraw the bill as concerns were raised about the protection of depositors' money if it was passed with the controversial "bail-in" clause that proposed use of depositor money by a