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FSDR bill : NDA govt trying to give corporate sector a backdoor access to savings of small depositors : TPCC

FSDR bill : NDA govt trying to give corporate sector a backdoor access to savings of small depositors : TPCC

Hyderabad, Jan 23 (UNI) Telangana Pradesh Congress Committee (TPCC) Treasurer Gudur Nararayana Reddy on Thursday alleged that the BJP-led NDA Government at the Centre was trying to give Corporate Sector a backdoor access to savings of small depositors by introducing Financial Sector Development and Regulation (FSDR) Bill.
In a media statement here, Mr Reddy also alleged that the NDA Government was trying to privatise the Public Sector Banks through FSDR Bill so as to benefit a few Corporates by granting them access to the hard earned money of common depositors.
Originally, the BJP Government had introduced Financial Resolution and Deposit Insurance (FRDI) Bill, 2017 which was later dropped due to a controversial 'bail-in' clause. However, now the same bill is being introduced with some modifications which are more dangerous than the original FRDI Bill, he said.

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