After "Bail-out" it is "Bail-in" package for Banks
A new plan by present Government to steal our savings (White money) from our Bank Accounts. to protect corporate defaulters (Black Money). It is known as Financial Regulation and Insurance (FRDI) Bill of 2016 which could be introduced in parliament this winter session. It provides an authority to Banks to convert deposits over 1 Lakh in securities (shares) of the Banks. It is called "Bail-in" policy. Reason, for providing protection up to 1 Lakh costs PSU Banks nearly Rs. 3,000 Crores every year as insurance premium. Second, either way, it is public money given to Banks in the form of "Bail-Out" or "Bail-In" package. Govt. faces opposition if it gives a "Bail-out' package. By bail-in package, Govt. will not be responsible and our money can be stolen by Banks under our nose and we won't be able to do anything.
The RBI’s regulatory role could be undermined. Deposits of customers could be used to bail-in banks reeling under corporate defaults.
If deposits will be converted in securities, all depositors will become share holders of the Bank. In that case, will depositors have a say in corporate lending or recovery by Banks?
https://scroll.in/article/859781/how-the-new-financial-regulation-law-will-affect-the-banking-sector
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The RBI’s regulatory role could be undermined. Deposits of customers could be used to bail-in banks reeling under corporate defaults.
If deposits will be converted in securities, all depositors will become share holders of the Bank. In that case, will depositors have a say in corporate lending or recovery by Banks?
https://scroll.in/article/859781/how-the-new-financial-regulation-law-will-affect-the-banking-sector
more
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Absolutely ridiculous. Poor governance and political interference has brought about the present state of affairs in banks. Punish the culprit's who made tons of money this way. Don't punish the poor who count on every paise he gets in the form of interest that as t too reduced so much. more
Dec 09
We must use our voting rights. And, it is necessary for it that Aadhaar Card is linked to Voters' ID card. more
Dec 09
Let government secure the depositor money in toto if they want to extend bail in options to banks. Central Govt/RBI control deposit interest rates as if all banks are owned by it but does nothing as far as lending is concerned. Bank depositors need not suffer for lack Of monitoring either by central govt or RBI. Public sector banks are owned by Central Govt and bail in package can not be extended at least to public sector banks. more
Dec 08
IT IS A BAD PRACTICE ON PART OF GOVERNMENT AND BANK MANAGEMENT TO PUNISH PUBLIC AT LARGE FOR THE MISDEEDS OF CORRUPT AND OVERACTIVE IN GIVING LOANS TO HIGH PROFILE BUSINESSMEN WITHOUT GETTING PROPER SECURITIES FOR THE LOANS. THIS BAIL IN IS BEING DONE TO RECOVER THE BANK MONEY LOST BECAUSE OF BAD DEBTS OF BUSNISSMENT LIKE MALLAYA. THIS WILL GIVE A BAD NAME TO BANKING INDUSTRY AND PEOPLE WILL NOT TRUST BANKS FOR THE SAVINGS. BAIL IN SHOULD NOT BE ALLOWED. THE LOST MONEY SHOULD BE RECOVERED FROM THE CORRUPT BANK MANAGEMENT PEOPLE WHO GAVE THE BAD LOANS. more
Dec 07
Aren't Modi and Co. digging their own graves even by thinking to bring in such a draconian law to put the interests of every common men into hell? Is it "Vinash Kale Biprit Buddhi"? Do these people, who were installed in the centre of power by the common men with great hope, have any ill will of entering in banking business by opening new banks as after on giving the proposed law into effect many of our existing banks are likely to die their natural death due to paucity of banking business, particularly deposits. Can we hope that our Prime Minister is well capable to read the writings on the walls and under no circumstances he will allow his FM to over power him to fulfil his own desire? more
Dec 07
