Highlights: Union Budget - 2019-20 Banking and Finance Sector - Finance bill grants RBI more intense regulatory powers over NBFCs in order to bring adequate oversight in the sector. - A push for land rights and easy access to finance for women SHG members through Mudra enables rural women to take centre stage as chief contributors to the Indian economy. - One time partial credit guarantee to banks for purchasing highly rated pooled assets of financially sound NBFCs. This has the potential to enhance credit flow to the economy. - Allocation of INR 70000 CRS for Bank Recapitalisation - Steps taken to deepen interest in the Corporate Bond Market. - Development of a Credit Default Swap market with special focus on the infrastructure sector. - Setting up a Social Stock Exchange for social enterprises and voluntary organizations - a huge game changer for the social sector
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