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.

    KEY HIGHLIGHTS

    • 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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