The Union Cabinet chaired by Prime Minister Narendra had approved the proposal to introduce a Financial Resolution and Deposit Insurance (FRDI) Bill in June this year. The bill was tabled in Lok Sabha in August and the Joint Committee of Parliament is expected to submit its report in the upcoming winter session of Parliament beginning 15 December. It is expected to pave way for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities, as per the statement given by the government.

Source - http://www.financialexpress.com