The government cannot whisk away your bank deposits in a jiffy

Been reading WhatsApp forwards that warn of a ‘tsunami’ wiping out your bank deposits? Don’t panic, as the bail-in clause and the Financial Resolution and Deposit Insurance (FRDI) Bill that contains it, have many hurdles to cross before they become law. Nor do you have to worry about your existing bank deposits being ‘bailed in’. We simplify the Bill to address the top-of-mind questions. What’s t...