Now to the WhatsApp storm of November 17: Let’s see what is so different about the FRDI Bill? Not much. All the Bill does is to formalise the process which already existed. Insured deposits will still be mandatorily protected. The cap of Rs 1 lakh has been suggested to be replaced by a flexible mechanism, where the insured sum is fixed by a newly-envisaged Resolution Corporation. In any case, a revision was long due as a protection of Rs 1 lakh did not make much sense in 1993 when it was introduced, leave alone now. And yes, this process now has a me, i.e. “bail-in”, which, its taboo-like reputation aside, is a standard term used in intertiol precedents.