The vacuum in the dispute resolution regulatory environment is being felt the most as policymakers and regulators grapple with the fallout of the meltdown in the infrastructure lending major IL&FS, cases of business failure in some NBFCs, and the stress in the cooperative banking system. This has forced the government to take a fresh look at the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017. The Bill was shelved in August last year following apprehensions around the ‘bail-in’ clause by depositors and stakeholders of a failed financial service provider.
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First Published: Sun, October 20 2019. 20:54 IST