FRDI Bill

[dasara_bullodu]

8 minutes ago, chittimallu2 said:

1. Not about this... I/we know about that one lakh insurance... the Q is is that true they are trying to use the rest of the money (above one lakh amount) to help bail out defaulted companies? 

2. What do you mean by unaccounted money, I assume you are talking about black money. But general public ese 5 lakhs amount lo 4 lakhs can be used to bail out corporations and does that mean the 5 laksh depositor wont get his money back? Not sure if this is true but this is how Im understanding it so far

unaccounted money ante demonetization appudu chala money black to white convert aindi ... insider deposits, fake companies, worker ki percentage icchi jan dhan lo veyyatam alantivi...

avi ippudu govt track lo pedtondi... and chala mandini black list chesindi... and now with help of adhaar it is easy to know where money is coming from

so FRDA tho ee converted money ni kontha use cheyacchu... but ee so called white money ni matrame vadukodaniki law ga pass cheyyali ante courts etc lo chellavu, so generalize chesi depoisted money annaru....

 

kani middle class money povatam tappu, so they should come with a better filter ...

[reality]

15 minutes ago, chittimallu2 said:

mee ayya ne cheppadanta ee rumour.. .maa ayya ki cheppa aa lanjdouku moham pagal denguu ani... ucha lo thadipina cheppu tho kottadanta mee ayya ni.. .oo sari call chesi ela unnado kanukko bamardhi 

Rofl...cheppu debba

[chittimallu2]

3 minutes ago, sattipandu said:

Say u have 10 lakhs FD set to end in 6months,  with this bill, if your bank is in losses or in bad shape due to written off loans

 

 instead of govt bailing then out by pumping cash, banks will be enabled to convert say a 10 lakh unmatured FD u have in that bank to, part shares/equity and rest of the money available for use

Still unclear what % and for howlong u have to was it till you recuperate your money +interest 

I may be complete wrong but thus is what I understood 

aa bold line lo last lo "for use" ante meaning enti? Will the banks use that money and later pay my 10 lakhs FD back after it matures or naku naamam pedthara? Thats the question

[chittimallu2]

3 minutes ago, dasara_bullodu said:

unaccounted money ante demonetization appudu chala money black to white convert aindi ... insider deposits, fake companies, worker ki percentage icchi jan dhan lo veyyatam alantivi...

avi ippudu govt track lo pedtondi... and chala mandini black list chesindi... and now with help of adhaar it is easy to know where money is coming from

so FRDA tho ee converted money ni kontha use cheyacchu... but ee so called white money ni matrame vadukodaniki law ga pass cheyyali ante courts etc lo chellavu, so generalize chesi depoisted money annaru....

kani middle class money povatam tappu, so they should come with a better solution ...

Still dont know what exactly this bill means but if its true that they want to use an average person's money in the bank to bail out huge corporations then that has to be the most retarded thing on planet earth ... Im just assuming thats not true

[kingcasanova]

entha hifi vocabulary vaadinaa idi janaalni sanka naakinche maro scheme, if repercussions of this act is as expected, bank accounts will become nothing other than corporate shares, they will vanish when the custodian bank frocks up, so being extra careful we Indian prajalu will slowly start withdrawing money from banks and invest in land or gold or in foreign MFs. banks lo paisal thagguthaayi, bank people will sit scratching the driks, skin infection vochi dermatologists ki manchi demand vosthundi.  

[dasara_bullodu]

3 minutes ago, chittimallu2 said:

Still dont know what exactly this bill means but if its true that they want to use an average person's money in the bank to bail out huge corporations then that has to be the most retarded thing on planet earth ... Im just assuming thats not true

 

Imagine the situation like this...

Govt tried to grab from ultra rich... but rich put a knife on middle class and say if you want to get me first get the middle class... and govt is like fcuk middle class .. hope this doesn't happen

[kingcasanova]

Just now, dasara_bullodu said:

 

Imagine the situation like this...

Govt tried to attack ultra rich by using their money... but rich put a knife on middle class and say if you want to get me first get the middle class... so govt is like.. fcuk middle class 

and middle class is like bending and screaming fcuk me hard

[uttermost]

10 minutes ago, chittimallu2 said:

Someone throw light in simple terms about FRDI... indhake maa ayya ki call chesthe banda boothulu dengaadu modi ni and govt ni about FRDI bill

people have the wrong notion of what FRDI can do. 

consider a failing bank. They can either be bailed out, or be allowed to fail. bailing out is the normal thing to do, especially for an economy that has huge growth potential like India, because of steady future incomes, and also because not every crook is allowed to run a bank. (nbfc doesn't fall under this).

now under the previous regime, part of your deposits are insured, and anything above it will be used by banks recapitalise themselves to prevent them from going under. it means you could potentially lose all deposits beyond the limit. 

under the new regime, that limit is removed. this puts banks under greater stress to maintain good practices. . i.e. When there is a bailout, that depositors won't receive any money is a nice warning bell to the banks to make sure that their banking practices keep depositors money separate from the liabilities that can be bailed in. Also it is the norm in all developed capitalist societies.

In a sense FRDI bill is actually pointless in India. Because apart from bad loans to crony friends, there's not much risk that these banks take (unlike securitization of every financial asset that the banks are allowed to do in the US).

FRDI bill is a natural consequence of demonetization, push for e-transactions. It improves the cash flow in the economy, without inflating any particular sector. The danger from FRDI may come in the far future, when Indian economy is completely liberalised. Not now. if at all it comes now, it will be easy to figure out the crooks (the banks that give out money to their crony friends), and punish them for it.

personally, I think money should be banned, but since we live in this complicated reality where people want money and power, FRDI seems to be a good idea to make sure that power isn't concentrated.

[kingcasanova]

2 minutes ago, uttermost said:

people have the wrong notion of what FRDI can do. 

consider a failing bank. They can either be bailed out, or be allowed to fail. bailing out is the normal thing to do, especially for an economy that has huge growth potential like India, because of steady future incomes, and also because not every crook is allowed to run a bank. (nbfc doesn't fall under this).

now under the previous regime, part of your deposits are insured, and anything above it will be used by banks recapitalise themselves to prevent them from going under. it means you could potentially lose all deposits beyond the limit. 

under the new regime, that limit is removed. this puts banks under greater stress to maintain good practices. . i.e. When there is a bailout, that depositors won't receive any money is a nice warning bell to the banks to make sure that their banking practices keep depositors money separate from the liabilities that can be bailed in. Also it is the norm in all developed capitalist societies.

In a sense FRDI bill is actually pointless in India. Because apart from bad loans to crony friends, there's not much risk that these banks take (unlike securitization of every financial asset that the banks are allowed to do in the US).

FRDI bill is a natural consequence of demonetization, push for e-transactions. It improves the cash flow in the economy, without inflating any particular sector. The danger from FRDI may come in the far future, when Indian economy is completely liberalised. Not now. if at all it comes now, it will be easy to figure out the crooks (the banks that give out money to their crony friends), and punish them for it.

personally, I think money should be banned, but since we live in this complicated reality where people want money and power, FRDI seems to be a good idea to make sure that power isn't concentrated.

enno round nadusthondi 

[batman2]

simple question evry1 must ask themselves....what happens if your bank fails?? as of today with out any frdi bill etc ???insurance covers for 1 lakh only....rest you would technically lose....but then govt normally steps in and bails out the bank and not let the depositors lose their money

after frdi, banks can bail-in bad loans, if all depositors suddenly decide to take back all money.....banks obviously won't have and then in such case the govt steps in for depositors.

both cases no difference for depositors.....the govt would step in case of need. only difference is for bank who can cover bad loans and start lending or else economy will go down and jobs won't be created 

[MRI]

21 minutes ago, batman2 said:

  chala personal ga thiskunnavga......chill man

nuvvu aa tepper maklodey gaadivena??

[chittimallu2]

3 minutes ago, uttermost said:

people have the wrong notion of what FRDI can do. 

consider a failing bank. They can either be bailed out, or be allowed to fail. bailing out is the normal thing to do, especially for an economy that has huge growth potential like India, because of steady future incomes, and also because not every crook is allowed to run a bank. (nbfc doesn't fall under this).

now under the previous regime, part of your deposits are insured, and anything above it will be used by banks recapitalise themselves to prevent them from going under. it means you could potentially lose all deposits beyond the limit. 

under the new regime, that limit is removed. this puts banks under greater stress to maintain good practices. . i.e. When there is a bailout, that depositors won't receive any money is a nice warning bell to the banks to make sure that their banking practices keep depositors money separate from the liabilities that can be bailed in. Also it is the norm in all developed capitalist societies.

In a sense FRDI bill is actually pointless in India. Because apart from bad loans to crony friends, there's not much risk that these banks take (unlike securitization of every financial asset that the banks are allowed to do in the US).

FRDI bill is a natural consequence of demonetization, push for e-transactions. It improves the cash flow in the economy, without inflating any particular sector. The danger from FRDI may come in the far future, when Indian economy is completely liberalised. Not now. if at all it comes now, it will be easy to figure out the crooks (the banks that give out money to their crony friends), and punish them for it.

personally, I think money should be banned, but since we live in this complicated reality where people want money and power, FRDI seems to be a good idea to make sure that power isn't concentrated.

under the new regine, that limit is removed. explain more about this. I read that 1 lakh rupees in insured since 90s... ipudu adi kooda ledu antunnava?

[reality]

12 minutes ago, sattipandu said:

Say u have 10 lakhs FD set to end in 6months,  with this bill, if your bank is in losses or in bad shape due to written off loans

 

 instead of govt bailing then out by pumping cash, banks will be enabled to convert say a 10 lakh unmatured FD u have in that bank to, part shares/equity and rest of the money available for use

Still unclear what % and for howlong u have to was it till you recuperate your money +interest 

I may be complete wrong but thus is what I understood 

So aa 10 lkhs FD chesinidiki medical emergency vachhi 9 lakhs urgent ga kavalante Modddda chupedathara?

[sattipandu]

5 minutes ago, chittimallu2 said:

aa bold line lo last lo "for use" ante meaning enti? Will the banks use that money and later pay my 10 lakhs FD back after it matures or naku naamam pedthara? Thats the question

They will give you back a certain % your money in form of stocks but if u want cash you might have to wait a bit longer 

Fd mature ayyaka nee money Motham cash roopam lo withdraw chesjogalgatam only 98% cases lo possible antunnaru

Naaamam Aythe pettaru le, delayed compensation in form of extra interest money or immediate competing form of stocks, Adhi muchata 

This is my understanding of the matter

[uttermost]

4 minutes ago, chittimallu2 said:

Still dont know what exactly this bill means but if its true that they want to use an average person's money in the bank to bail out huge corporations then that has to be the most retarded thing on planet earth ... Im just assuming thats not true

It means that, banks that now are making idiotic loans to unviable projects that their friends are part of, using your deposits, will not be allowed to do so. Actually they will be allowed, but they have to bear the entire risk themselves.

This actually didn't need FRDI bill. It could simply be done by imprisoning those who sanction those loans (and their political backers), but this bill is helpful for India to move towards even more financial liberalization.

and for the banking system to be more robust. Sure a couple banks may fail, but their failure will strengthen the overall system. And also make loans cheaper in the long run.