The government has given more response to the fiscal consolidation and deposit insurance bill introduced in 2017 for helping banks become bankrupt. Finance Minister Arun Jaitley has indicated that he can change some of the bill's controversial proposals. The draft bill of the FDI bill is ready. Which will be presented in the winter session of Parliament. If this bill passes, many of your things can change along with the banking system. However, Finance Minister Arun Jaitley said that measures will be taken to protect the interest of banks and depositors in this bill. He tweeted about the controversy over the proposal of Bill-in-Bill, saying that the bill is currently with the standing committee. The objective of the government is to protect the interest of the common man and the bank. The government is committed to fulfilling this objective.
It is worth mentioning that the dispute has begun on the bill. People with many banking associations are protesting against it. This bill is being demanded for change. The biggest complaint of these people is 'Bell-In' clause. Bellin will give these banks the right to use the depositors' money to improve its bad condition. They say that it has deposits money deposited in the bank, what will be the security of it. This bill gives the corporation the right to the corporation to take any decision on the depositors' capital.
Mamta Pathania, Co-Project Director of National Consumer Helpline, said that there are many issues in the minds of ordinary people, with many proposals of this bill. Ultimately, it is believed to be the safest to keep money in the bank. On Arun Jaitley's controversy over the FDI bill, he said earlier that the bill could still improve and he has also advised to change the in-belly proposal in terms of general interest.
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