At present, all deposits up to Rs 1 lakh are protected under the Deposit Insurance and Credit Guarantee Corporation Act that is sought to be repealed by the bill.
This is the third clarification within a week by the government amid mounting criticism on the bail-in clause in the FRDI Bill.
The Finance Ministry said the provisions contained in the FRDI Bill do not modify present protections to the depositors adversely at all.
What the FRDI Bill is all about and why it has sparked fears in bank depositors.
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