Budget 2020 Updates on Banking & Finance Sector

Budget 2020 Updates on Banking & Finance Sector

Here are the Budget 2020 Updates:

• Hiking foreign investor access to government securities positive for yields: CRISIL
• Govt to transfer balances into GST compensation fund for 2016-18

• Govt plans to raise fund via LIC IPO: FM
• GIFT City to set up international bullion exchange
• Rs 22,000 cr of Rs 103 lakh cr already provided for infrastructure: FM
• Govt to enhance partial credit guarantee scheme for NBFCs
• FPI Limit in corporate bonds to be raised to 15% from 9%
• FM says recent CPSE Debt ETF has been a big success
• New debt ETF to be launched consisting mostly of G-Secs: FM
• NRIs to be allowed to invest in certain categories of G-Sec
• Govt asked RBI to mull extending MSME recast window by 1 more year, says FM Sitharaman.
• FY21 fiscal deficit target pegged at 3.5% of GDP: Bloomberg
• FY20 fiscal deficit seen at 3.8% of GDP: Bloomberg
• Centre to allow NBFCs to extend invoice financing to MSMEs
• Govt to sell stake in IDBI Bank to private investors
• Govt to amend banking regulation act to strengthen co-operative banks
• NBFC eligibility for SARFAESI Act reduced to Rs 100 cr from Rs 500 cr AUM
• Deposit insurance coverage increased to Rs 5 lakh from Rs 1 lakh: FM
• PSBs will be encouraged to approach capital markets for fundraising, says FM Sitharaman
• Govt has infused Rs 3.5 lakh crore in PSU banks over last few years
• Govt to allocate Rs 100 cr for hosting the G20 Summit In 2022
• Govt to bring national policy on official statistics
• Centre to launch a common entrance test for recruitment of non-gazetted posts
• Govt proposes to amend the Companies Act to bring criminal liability in certain areas
• FM says Govt to launch new export credit scheme called 'NIRVIK'
• Tax harassment cannot be tolerated: FM
• To enshrine a taxpayer charter in the statute: FM

Further updates will follow soon.

Read more & stay tuned for more details on Unionbudget2020 , Incometaxslabs , Budget2020 , Nirmalasitharaman, Budget2020 , Dividentdistributiontax , BudgetSession2020

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