Budget in a nutshell: Financial sector reforms

GN Bureau | February 29, 2016


#arun jaitley   #governance   #economy   #budget 2016   #NDA government  

* A comprehensive Code on Resolution of Financial Firms to be introduced.

* Statutory basis for a Monetary Policy framework and a Monetary Policy Committee through the Finance Bill 2016.Budget 2016

* A Financial Data Management Centre to be set up.

* RBI to facilitate retail participation in Government securities.

* New derivative products will be developed by SEBI in the Commodity Derivatives market.

* Amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100% stake in the ARC and permit non institutional investors to invest in Securitization Receipts.

* Comprehensive Central Legislation to be bought to deal with the menace of illicit deposit taking schemes.

* Increasing members and benches of the Securities Appellate Tribunal.

* Allocation of Rs 25,000 crore towards recapitalisation of Public Sector Banks.

* Target of amount sanctioned under Pradhan Mantri Mudra Yojana increased to Rs 1,80,000 crore.

* General Insurance Companies owned by the Government to be listed in the stock exchanges.
 

Comments

 

Other News

Making sense of facts – and alternative facts

The Art of Conjuring Alternate Realities: How Information Warfare Shapes Your World By Shivam Shankar Singh and Anand Venkatanarayanan HarperCollins / 284 pages / Rs 599 Professor Noam Chomsky, linguist and public intellectual, has often spoken of &ls

The Manali Trance: Economics of Abandoning Caution in the Time of Coronavirus

The brutal second wave of the COVID-19 pandemic in India has left a significant death toll in its wake. Health experts advise that the imminent third wave can be delayed by following simple measures like wearing a mask and engaging in social distancing. However, near the end of the second wave, we witnesse

Govt considers fixing driving hrs of commercial vehicles

Union Minister of Road Transport and Highways Nitin Gadkari has emphasised deciding driving hours for truck drivers of commercial vehicles, similar to pilots, to reduce fatigue-induced road accidents. In a Na

Telecom department simplifies KYC processes for mobile users

In a step towards Telecom Reforms which aim to provide internet and tele connectivity for the marginalised section, the Department of Telecommunications, Ministry of Communica

Mumbai think tank calls for climate action

Raising concerns over rising seawater levels and climate change, Mumbai First, a 25-year-old public-private partnership policy think tank, has written letters to Maharashtra chief minister Uddhav Thackeray, minister for environment and climate change, tourism and protocol, Aditya Thackeray and Mumbai munic

Creation of ‘good bank’ as important as ‘bad bank’ for NPA management

After the recent announcement of the government guarantee for Security Receipts (SRs) to be issued by a public sector-owned National Asset Reconstruction Company Ltd (NARCL), there is a surge of interest around this desi version of a super bad bank. The entity will acquire around ₹2 trillion bad debts fr

Visionary Talk: Gurcharan Das, Author, Commentator & Public Intellectual on key governance issues


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter