Page 45 - Banking Finance April 2018

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In India Bank failure is almost non-existent and till now the (Please tick)
claims from DICGC is very few. Mostly, such claims have been Name of Executive :
raised only due to failure of few Co-operative Banks. Designation:
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FRDI Bill 2017 provides for specialized resolution mechanism Pincode :
of certain categories of financial service providers and Phone : Mobile :
establishment of Resolution Corporation which will Fax : E.Mail :
contribute to the stability and resilience of the financial Publication Order :
system. The following are the advantages of FRDI Bill 2017
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to all stakeholders of various Financial Service Providers in
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India.
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Y It can benefit a large number of retail depositors as it
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seeks to decrease the time and costs involved in
resolving distressed financial entities.
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Y Help in maintaining financial stability in the economy
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by ensuring adequate preventive measures, as well as
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provide necessary instruments in an event of crisis.
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Y Once implemented, the Bill together with the Code will plicable for payable at per cheques.
provide a comprehensive resolution framework for the Do not make any Cash Payment
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Y The bill envisages inculcating discipline among financial Please tear and send it along with your letter
service providers in the event of financial crisis.
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Y It promotes "Ease of Doing Business" in the country.
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Y Increased access to finance enhances enterprise A/C No. : 402120110000327
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BANKING FINANCE | APRIL | 2018 | 45