The Government has said, Financial Resolution and Deposit Insurance, FRDI Bill is far more depositor friendly than many other jurisdictions, which provide for statutory bail-in, where the consent of creditors or depositors is not required for bail-in. <br/><br/>In a statement today, Ministry of Finance said, the Bill does not propose in any way to limit the scope of powers for the Government to extend financing and resolution support to banks, including Public Sector Banks. <br/><br/>It said, Government's implicit guarantee for Public Sector Banks remains unaffected.<br/><br/>The Ministry said, certain misgivings have been expressed in the media regarding bail-in provisions of the FRDI Bill. It said, the provisions contained in the FRDI Bill as introduced in the Parliament, do not modify present protections to the depositors adversely at all. <br/><br/>It said, the provisions provide rather additional protections to the depositors in a more transparent manner. <br/><br/>The Bill was introduced in the Lok Sabha in August this year is presently under the consideration of the Joint Committee of Parliament. The Joint Committee is consulting all the stakeholders on the provisions of the FRDI Bill. <br/><br/>The Ministry said, Indian Banks have adequate capital and are also under prudent regulation and supervision to ensure safety and soundness, as well as systemic stability. <br/><br/>It said, the existing laws ensure the integrity, security and safety of the banking system. It added that in India, all possible steps and policy measures are taken to prevent the failure of banks and protection of interests of depositors. <br/><br/>The Government said, the FRDI Bill will strengthen the system by adding a comprehensive resolution regime that will help ensure that, in the rare event of failure of a financial service provider, there is a system of quick, orderly and efficient resolution in favour of depositors.<br/><br/>Finance Minister Arun Jaitley had yesterday said that government is committed to fully protect the interest of the financial institutions and the depositors through the proposed FRDI Bill.