What are the major announcements by the finance minister for the Finance sector in Budget2020?
Answer 
Follow
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.
3 Views
Abuse Report