Deadline for stakeholders’ suggestions on FRDI Bill extended

New Delhi, Oct 20 (IANS) The government on Thursday extended till October 31 the deadline for stakeholders to file suggestions on the draft Financial Resolution and Deposit Insurance (FRDI) Bill, an official said.

“A number of requests have been received from stakeholders and institutions of repute for extending the time-line for providing comments on the draft Bill. The time line for receiving comments on the Draft Bill is accordingly extended till October 31, 2016,” the Finance Ministry said in a statement here.

The earlier deadline for stakeholders and public comments on the draft FRDI Bill, 2016 was October 14.

A committee was set up pursuant to the budget announcement of 2016-17 on framing a draft code on resolution of financial firms. A copy each of the report of the committee, the draft Bill and an explanatory note explaining the key legal provisions of the Bill is hosted on the home page of the Ministry of Finance.

“All stakeholders and the public are requested to forward comments on the draft Bill by October 31, 2016 by e-mail to or in hard copy to Parveen Kumar, Under Secretary (Financial Sector Legislative Reforms Commission), Department of Economic Affairs, Ministry of Finance, Room No. 48, North Block, New Delhi-110001,” it said.

The decision with respect to the report and the draft Bill will be taken later after receipt of stakeholders comments, it added.