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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