Question

write a short note on financial resolution and deposit insurance bill (FRDI)

Answer 1

Provisions of the Financial Resolution and Deposit Insurance Bill, 2017 meant to protect interests of depositors. The Financial Resolution and Deposit Insurance Bill, 2017(FRDI Bill), introduced in the Lok Sabha on August 10, 2017, is presently under the consideration of the Joint Committee of the Parliament.

Answer 2

Financials resolution on insurance deposits and bills are regulated by FRDI which enable transparency on the trasaction and many other aspects as below

Premium is the monthly payment which is remitted for the uncertainities insured

They control the rules and regulations which guide the firms and consumers or customers of the firm.

They ensure the comply of the ethics and laws of the land