New Delhi

An online petition on Change.org against the FRDI Bill, 2017, has gone viral on social media, seeking public support against what it terms as an attempt to “allow a government entity to use depositors’ money to save a bank on the verge of bankruptcy”. 

The petition was started by a Mumbai-based individual, Shilpa Shree, with a single signature and has got over 40,000 sign-ups within 24 hours, supporting her appeal to the Finance Minister to not let this bill pass with the ‘bail-in’ provision. 

“Our hard earned money that we have saved for our children and for our future will be used to bail-in the banks,” the petitioner said. 

“This bill gives power to a government entity to use depositors’ money to save a bank on the verge of bankruptcy. This government entity can declare the bank doesn’t owe you any money though you have deposited your hard-earned money with it,” the petition said.

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