Worries about the safety of bank deposits may further erode the economy of trust

Worries about the safety of bank deposits may further erode the economy of trust

ndian villagers queue outside a bank as they wait to deposit and exchange 500 and 1000 rupee notes in Hanuman Ganj village on the outskirts of Allahabad | Sanjay Kanojia/AFP The Big Story: Fear and savings “This tsunami will wipe out your money lying in the banks,” warned a message that went viral on WhatsApp recently, spreading panic among depositors. It was referring to the new Financial Resolution and Deposit Insurance Bill, 2017, lying with a joint parliamentary committee at present and expected to be tabled during the winter session. Among…

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