Defer FRDI Bill, Assure Safety of People's Money- CH Venkatachalam
The FRDI Bill has been passed by cabinet members, and will soon be tabled at the winter session of the Parliament. Newsclick talks to C.H.Venkatachalam, General Secretary of AIBEA, to ascertain the effects of this Bill on depositors and whether its aim is to privatise the banking sector. "In India, people want safety, not higher returns. The government must appreciate and understand this and come up with a scheme where people are guaranteed and assured that their money is safe in the banks," he said.
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