If I tell you that the amount deposited in your bank a/c or your life term savings be given to bank. because banks have given loans to likes of Vijay Mallya who are unable to repay back so these loans have turned Bad loans or “NPA’s(Non Performing Asset)” & if they don’t get their money back, then banks’ll turn bankrupt & if banks crash, then economy shall also crash. so, in order to save our economy, our country at least you can do this much part treat it like patriotism like you queued (in DeMo), so treat this similarly Also, our soldiers are fighting in siachen & if you can’t handle it, then go to Pakistan Anti- National Agent Friends, this is known as Bail-in. If your deposited money as bank’s customer is used to save bank from bankruptcy/failure, then this is known as Bail-in & very soon, you won’t have any accord over it whether you approve/want to do it or not the requisite amount to bail in the bank shall be decided by the Govt. A similar bill is about to be passed in this upcoming winter session of parliament which’ll make it a law Till now, if any bank fails, the minimum amount insured is 1lakh which is the min. insured amount decided by 1962 law. for eg. If you have 10lakh in your bank a/c & if such bank fails, then at least 1 lakh shall be provided back to you but when this bill shall pass, then Govt. shall decide the amount to be returned back to you. with no minimum insured amount. If Govt. desires, then it can return 2lakh out of 10lakh funds or single penny out of 10lakh Financial Resolution Deposit Insurance Bill(FRDI Bill) Till now, RBI had the power to decide how to handle bank’s debt but this bill proposes constitution of a new corporation named Resolution Corporation. which’ll be given powers to decide whether to bail in a bank incase of its bankruptcy & the amount to be returned back to such bank’s depositors which shall be decided entirely by resolution corporation Let me tell you the managing people who’ll handle the Resolution Corporation Board It shall be a team of 11 people out of which one shall be chairman, one person of finance ministry, one person of RBI one person each from SEBI deptt., IRDA deptt, 3 full time persons to be appointed by Central Govt. & 2 independent members also to be appointed by Central Govt. so out of 11, 6 people are under direct control of Central Govt. so, basically Resolution Corporation shall be a Govt. controlled board which’ll decide the amount which needs to be returned back to depositors incase if a bank fails & whether to bail in a bank or not if bank fails. Section 52 of this bill says that Resolution Corporation can cancel, modify or change the liability owned by the banks & its loss written in Balance sheet So, your entire deposit amount shall be converted into Fixed deposit with 5 years lock-in period or use it entirely for bail-in. All such powers shall reside with Resolution Corporation which’ll take such decision Summarising it in single line, this bill gives power to Govt. about handling amount in your bank a/c which’ll depend entirely on Govt., whether to use it for bail-in or convert it into FD or any other form to be decided by the Govt. & this thing is dangerous to give full authority & imposing so much trust on Govt. & if you see the previous steps of this Govt. like Jan Dhan Yojana i.e. opening of bank a/c’s for all poor people then demonetisation came i.e. amount in possession with people to be deposited in bank a/c & now this bill is coming which ‘ll make the entire amount in bank a/c’s under control of Govt. Keeping aside the tax amount, even the non-tax amount for personal purposes with sole individual’s right collected by making savings shall now have right of Govt. Now, you can understand why people are hassled by this bill. Although our Finance Minister, Mr. Arun Jaitley has said that he is committed to protect the interests of depositors. but like a politician, no concrete steps have been taken. A petition has been issued to protect against this bill which has already garnered more than 1 lakh signatures So, I would say to sign such petition which shall be given in the description below & also in the top comment Sign that petition so that your amount remains in your control instead of Govt.’s control and your confidence on banks & your savings doesn’t anchor down & if you feel that this shall never happen; why ‘ll Govt. pass such bill People themselves ‘ll stop voting for them & get furious, then don’t forget Demonetisation. & this year itself in March, corruption was legalised in Finance Bill After reading such finance bill, you’ll think how can such bill get passed but still it passed & has now become law. I have explained about it in this video. You can go & see it. Therefore, sign this petition & share with your friends & family so that this petition reaches every Indian. & they also realize the works done by Govt. from backdoors. Anyway, our media won’t showcase such things. & if you liked this video & desire to watch such awareness related videos, then subscribe this channel & you can also follow me on facebook, twitter & Instagram. We’ll meet in next video. Thank You.