#Cabinet Briefing by Union Ministers @nsitharaman and @ianuragthakur, today
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@airnews_mumbai
Live From ⏰4 PM
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@airnews_mumbai
#Cabinet clears Deposit Insurance and Credit Guarantee Corporation Bill 2021
- Union Minister @nsitharaman
Cabinet Decisions Live Now
- Union Minister @nsitharaman
Cabinet Decisions Live Now
Deposit Insurance and Credit Guarantee Corporation insures all bank deposits, covers all commercial banks, even foreign bank branches in India are covered, notes Finance Minister @nsitharaman
@FinMinIndia
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@FinMinIndia
Live Now
#Cabinet clears DICGC Bill 2021
Each depositor's bank deposit is insured up to Rs. 5 lakh in each bank (for both principal & interest)
Increase of insured amount from Rs. 1 lakh to Rs. 5 lakh will cover 98.3% of all deposit accounts and 50.9% of deposit value
- FM @nsitharaman
Each depositor's bank deposit is insured up to Rs. 5 lakh in each bank (for both principal & interest)
Increase of insured amount from Rs. 1 lakh to Rs. 5 lakh will cover 98.3% of all deposit accounts and 50.9% of deposit value
- FM @nsitharaman
Globally, deposit insurance coverage is only 80% of all deposit accounts, covering only 20% - 30% of deposit value
With today's #Cabinet approval, corresponding figures in India become 98.3% and 50.9% respectively
- FM @nsitharaman
Live
With today's #Cabinet approval, corresponding figures in India become 98.3% and 50.9% respectively
- FM @nsitharaman
Live
Normally, it takes 8 - 10 years after complete liquidation to get money under insurance; but now, even if there is a moratorium, within 90 days, the process will definitely be completed, giving relief to depositors
- FM @nsitharaman
Live
- FM @nsitharaman
Live
#CabinetDecisions
A lot of changes are being made in Companies Act, decriminalizing many sections and improving #EaseOfDoingBusiness for companies
A similar treatment had to be given for LLPs
- FM @nsitharaman explains rationale for Limited Liability Partnership Amendment Bill
A lot of changes are being made in Companies Act, decriminalizing many sections and improving #EaseOfDoingBusiness for companies
A similar treatment had to be given for LLPs
- FM @nsitharaman explains rationale for Limited Liability Partnership Amendment Bill
#CabinetDecisions
With the Limited Liability Partnership Amendment Bill, we will have only 22 penal provisions, 7 compoundable offences, 3 non-compoundable offences
- FM @nsitharaman
With the Limited Liability Partnership Amendment Bill, we will have only 22 penal provisions, 7 compoundable offences, 3 non-compoundable offences
- FM @nsitharaman
A total of 12 offences are to be decriminalized for LLPs, 3 sections will be omitted
These amendments will bring to LLPs an equal playing field, compared to large companies which come under the Companies Act
- FM @nsitharaman during #Cabinet Briefing
🎥
These amendments will bring to LLPs an equal playing field, compared to large companies which come under the Companies Act
- FM @nsitharaman during #Cabinet Briefing
🎥
Between large companies that are well-regulated & small proprietorships, LLPs did not have benefit of either simplified regulation or ease of practice under proprietorship
With today's #Cabinet decision, we are bridging the gap & making LLPs more attractive, easy to handle
- FM
With today's #Cabinet decision, we are bridging the gap & making LLPs more attractive, easy to handle
- FM
MoU signed bwn International Institute of Financial Services Centres Authority, Gandhinagar, International Organization of Securities Commissions and International Association of Insurance Supervisors
It is one of the biggest multilateral forums; has 124 signatories
- FM
It is one of the biggest multilateral forums; has 124 signatories
- FM
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