Preparing For Cyprus Moment: Centre May Allow Banks To Use Your Hard-Earned Deposits In Case It Collapses


outlookindia.com reports:
Priding themselves for being 'cash-less' post demonetization last year, some Indians may come face to face with a horrific post-apocalyptic future where they could be deposit-less too. Yes, this could be a reality unless the government of the day removes the unholy 'bail-in' clause that theoretically allows beleaguered banks and financial institutions to legally usurp depositors' money in a desperate bid to stop going bust. What will happen if one day you find your hard-earned money just disappear forever?
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