The government wants to avoid controversial FRDI Bill 2017 ahead of the general election due in 2019 The National Democratic Alliance (NDA) government has decided to withdraw the contentious Financial Resolution and Deposit Insurance Bill 2017, or FRDI Bill, and is awaiting the cabinet’s nod to move Parliament for this as the government looks to avoid controversial legislation ahead of the 2019 general election. A decision has been taken internally to withdraw the bill, but the Cabinet needs to clear the proposal, said a finance ministry official on condition of anonymity. A cabinet meeting on Wednesday chaired by Prime Minister Narendra Modi did not take up the proposal. The bill has been criticized for some of its controversial provisions, including a “bail-in” clause, which suggests that depositor money could be used by failing financial institutions to stay afloat. The lack of clarity over protecting existing levels of deposit insurance for smaller deposits also led to a l