NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg today said the introduction in the Lok Sabha of the bill seeking to deal with insolvency of financial service providers is a significant step.
The Financial Resolution and Deposit Insurance Bill, 2017 was today introduced by Minister of State for Finance Arun Ram Meghwal.
Soon after, it was referred to the 30-member committee comprising members of both the Lok Sabha and the Rajya Sabha.
The committee is expected to submit its report during the next session.
“Financial Resolution and Deposit Insurance Bill, 2017 introduced in Lok Sabha today. A significant step to bring in financial firm resolution,” Garg said in a tweet.
The bill provides for establishment of a resolution corporatio…
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