RBI and IRDAI object to new bankruptcy bill

NEW DELHI: The Reserve Bank of India and the country’s top insurance regulator, Insurance Regulatory and Development Authority, have objected to a draft law on bankruptcy in financial institutions, saying some of its provisions undermine their authority.

The remarks are a potential setback for the Financial Resolution and Deposit Insurance Bill, which the government has been pushing to safeguard retail deposits and investments in banks and insurance firms.

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Source : http://paper.hindustantimes.com

 

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