While a ‘bail-in’ would backfire by creating a political storm, the government must step in to address potential concerns. It is a measure of the mistrust the Indian middle class has of the BJP government that both the traditional media as well as social media are discussing, with some trepidation, the consequences of proposed legislation which creates scope for the appropriation of people’s savings. Or, to be more specific, the appropriation of people’s savings lying in banks, in the event a bank goes bankrupt or is in need of a…
Read MoreWhy proposed Law is stoking the worst fears of India’s Bank Depositors?
