The “bail-in” clause of the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, can be disastrous as it could foster feelings of insecurity about one’s money in the bank (“Banking on legislation”, November 9). The agenda of financial inclusion must not suffer from such ill-perceived schemes.
Non-performing asset-ridden public sector banks must be bailed out by the Insolvency and Bankruptcy Board of India, the Public Asset Rehabilitation Agency Scheme for Sustainable Structuring of Stressed Assets, Strategic Debt Restructuring and Mission Indradhanush, thereby tackling bad debts while keeping customer confidence intact. This becomes more essential as savings growth is pertinent in boosting the investment climate of the nation.
Anjali B.,
Thiruvananthapuram
