We are a group of people’s movements, trade unions and civil society organisations concerned with the provisions of the FRDI Bill. The Bill, if enacted, might rob the common people of their savings; give authoritative powers to a body (Resolution Corporation) to weaken, merge and even liquidate public sector banks, leading to their privatisation. This is a Bill pushed through without a public debate and adequate consultations. Demonetisation and GST was bad enough, it left a deep scar on the common people informal economy and the poor. FRDI will fundamentally change the financial system of this country, where poor will be made to pay for the debts of the rich and wilful defaulters.