Budget and financial sector: Key highlights
Finance Minister Nirmala Sitharaman today announced the limit for FPIs in corporate bonds is to be raised from 9 per cent to 15 per cent and select government securities are to be fully opened for NRIs.
- Select govt securities to be fully opened for NRIs
- Limit for FPIs in corp bonds raised from 9% to 15%
- To float new debt ETF for govt bonds
- Gifty City to set up international bullion exchange
- Credit guarantee scheme for NBFCs extended
- Rs 3,50,000 crore infused in PSU banks in past few years
- Governance reforms in PSU banks to make them more efficient
- PSU banks to be encouraged to raise capital from markets
- Bank deposit insurance cover increased from Rs 1 lakh to Rs 5 lakh
- To take measure to professionalise PSU banks
- To amend bank regulation to strengthen co-op banks
- Proposes to sell govt’s balance holding in IDBI Bank
Source- Economic Times.
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