Dear Sagar Media Inc,
Our hard earned savings may be in danger! The money you deposit in your bank might be at risk!
The government is tabling a new law in Parliament that will allow a government entity to use depositors money to save a bank on the verge of bankruptcy.
Our hard earned money that we have saved for our children and for our future will be used to ‘Bail-In’ the banks.
This “Bail-in” provision means that say you have 10 lakhs in your account and if the bank is in trouble, it can reduce your 10 lakhs to 1 lakh, and the bank can use the remaining 9 lakhs to save itself.
The bank can also convert your account balance to a fixed deposit, repayable after five years.
Sagar Media Inc, sign my petition and claim rights to your own money.
Our money could be forcibly used to pull out a bank from its financial woes.
And we will not be able to do anything about it. We won’t even be able to challenge that in court!
Sagar Media Inc, Sign this petition now, before this bill is tabledin the winter session of the Parliament next week.
Thank you for your support,