On Tuesday parliament passed amendments to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI. The Banking Regulation (Amendment) Bill, 2020, which replaces an ordinance that was promulgated on June 26, was passed by a voice vote in Rajya Sabha, and the amendment had got approval from Lok Sabha on September 16. Sitharaman said that "During … [Read more...]
PM Street Vendor’s Atmanirbhar Nidhi Scheme
The Union Cabinet launched Pradhan Mantri Street Vendor’s Atmanirbhar Nidhi Scheme (PM SVANIDHI) on 1st June, 2020. This special micro-credit facility scheme will provide affordable loans to street vendors and they can revive their businesses or livelihood without any further delay due to lockdown by the pandemic of COVID-19. Housing and Urban Affairs Ministry launched the … [Read more...]