InvestorQ : What are the major announcements by the finance minister for the Finance sector in Budget2020?
Lavanya Subramanian made post

What are the major announcements by the finance minister for the Finance sector in Budget2020?

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Archita Jajjoo answered.
1 year ago
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These are the major announcements in the finance sector:
· The government has taken concrete steps to robust the banking system.
· Government has proposed to sell the balance holding of GOI in IDBI bank to private investors
· Increased limit for the Deposit Insurance & Credit Guarantee Corp (DICGC), from Rs 1 lakh to Rs 5 lakh.
· Government also proposed to increase the limits for FPIs in Corporate Bonds from 9% to 15%.
· Limit for NBFCs to be eligible for debt recovery under SARFAESI to be reduced from Rs 500 crore to Rs 100 crore AUM
· A robust mechanism shall be in place to monitor the health of all scheduled commercial banks and also, to make sure that the depositor's money is safe with banks.
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