What is FRDI (Financial Resolution and Deposit Insurance) Bill 2017 ?

FRDI Bill expected to come in Winter Parliament Season 

Government of India as tabled FRDI bill 2017 in Lok sabha , In August 2017 and Referred to Joint committee of Parliament & expected to come parliament in winter season!

What Bill says?
The Bill says that in case of a bank failure, the proposed corporation will provide deposit insurance up to a certain limit, which has not been specified. Currently, bank deposits of up to Rs 1 lakh are insured but there are few banks that have failed in India in recent years as the Reserve Bank of India (RBI) has stepped in to work out a resolution plan without creating any risk for depositors (economic times) Finance Minster of India Arun Jaitley Has tweeted about the objective of Government!

More than 50000 people said no to #Nobailin in change.org website on which center is planning to change in FRDI bill 2017 !

What is bail in ?

A bail-in is rescuing a financial institution on the brink of failure by making its creditors and depositors take a loss on their holdings. A bail-in is the opposite of a bail-out, which involves the rescue of a financial institution by external parties, typically governments using taxpayers money. Typically, bail-outs have been far more common than bail-ins, but in recent years after massive bail-outs some governments now require the investors and depositors in the bank to take a loss before taxpayers. Read more: Bail-In Definition 

Sources say that if the bill is passed in Parliament many financial institutions , banks can use the deposits  of customers if they fail to recover the loans that given to companies and they are in loss! Watch - (ntv) , Part-2 and Part -3