Last Updated : Mar 21 2019 6:48PM     Screen Reader Access
News Highlights
Social Media platforms to prevent violation of Code of Ethics during polls            Army Jawan martyred as Pakistan violates ceasefire along LoC            China has responsibility to not shield Pakistan: US            Holi being celebrated across the country            India wins 368 medals at Special Olympics World Summer Games           

National News

Feb 07, 2019
8:19AM

Cabinet approves amendments to Banning of Unregulated Deposit Schemes Bill

@DDNewsLive
The Cabinet has approved a proposal for Official Amendments to Banning of Unregulated Deposit Schemes Bill, 2018. 


Briefing media after the Cabinet meeting in New Delhi last night, Union Minister Ravi Shankar Prasad said, the amendments will further strengthen the bill to effectively tackle illicit deposit-taking activities, and prevent such schemes from duping the poor. 


Mr Prasad said the Bill provides for severe punishment and heavy pecuniary fines to act as the deterrent. The bill creates three different types of offences, namely, running of Unregulated Deposit Schemes, fraudulent default in Regulated Deposit Schemes, and wrongful inducement in relation to Unregulated Deposit Schemes.

The bill provides for attachment of properties or assets by the Competent Authority and subsequent realization of assets for repayment to depositors. The Cabinet also cleared establishment of a unified authority for regulating all financial services in International Financial Services Centres in India through International Financial services Centres Authority Bill, 2019.

The Rashtriya Kamdhenu Aayog, which was announced by Finance Minister Piyush Goyal in the budget earlier this month, also got the Cabinet's nod. It Aayog will be established for the protection and development of cattle. Mr Prasad said:



The Cabinet also approved the amendment to the Cinematograph Act, 1952 to tackle film piracy and Copyright infringement. Mr Prasad said, there are penal provisions for unauthorized camcording and duplication of films. 


The proposed amendments will increase Industry revenues, boost job creation, fulfil important objectives of India’s National IP policy and will give relief against piracy and infringing content online.

The Cabinet Committee on Economic Affairs (CCEA) has given its nod for Broadcasting Infrastructure and Network Development scheme of Prasar Bharti. Mr Prasad said an amount of over 1,000 crore rupees have been approved for a period of three years.


The CCEA also approved the creation of Agri-Market infrastructure fund for development and up-gradation of Gramin Agriculture Markets. A corpus of 2 thousand crore rupees will be created with NABARD.

The Cabinet also gave its nod for higher allocation of power to Telangana and Jharkhand from Under Construction Projects of NTPC in these states.

The Cabinet also cleared the establishment of Circuit Bench of Calcutta High Court at Jalpaiguri. It will have jurisdiction over four districts namely Darjeeling, Kalimpong, Jalpaiguri and Cooch Behar.

Live Twitter Feed

Listen News

Morning News 21 (Mar) Midday News 21 (Mar) News at Nine 20 (Mar) Hourly 21 (Mar) (1800hrs)
समाचार प्रभात 21 (Mar) दोपहर समाचार 21 (Mar) समाचार संध्या 20 (Mar) प्रति घंटा समाचार 21 (Mar) (1805hrs)
Khabarnama (Mor) 21 (Mar) Khabrein(Day) 21 (Mar) Khabrein(Eve) 20 (Mar)
Aaj Savere 21 (Mar) Parikrama 21 (Mar) Lok Ruchi Samachar 17 (Mar)

Listen Programs

Market Mantra 20 (Mar) Samayki 20 (Mar) Sports Scan 20 (Mar) Spotlight/News Analysis 20 (Mar)
    Public Speak

    Country wide 14 (Mar) Surkhiyon Mein 14 (Mar) Charcha Ka Vishai Ha 20 (Mar) Vaad-Samvaad 19 (Mar) Money Talk 19 (Mar) Current Affairs 15 (Mar)