ADD ANI AS A TRUSTED SOURCE
googleads
Menu
General News

Cabinet approves introduction of Chit Funds (Amendment) Bill, 2019 in Parliament

New Delhi [India], July 31 (ANI): The Union Cabinet on Wednesday approved the introduction of Chit Funds (Amendment) Bill, 2019 in Parliament, in order to fulfil the objectives of reducing the regulatory or compliance burden of the registered Chit Funds Industry as well as protecting the interest of the Chit subscribers.

ANI Jul 31, 2019 19:11 IST googleads

The Union Cabinet on Wednesday approved the introduction of Chit Funds (Amendment) Bill, 2019 in Parliament.

New Delhi [India], July 31 (ANI): The Union Cabinet on Wednesday approved the introduction of Chit Funds (Amendment) Bill, 2019 in Parliament, in order to fulfil the objectives of reducing the regulatory or compliance burden of the registered Chit Funds Industry as well as protecting the interest of the Chit subscribers.
Last year on February 20, the Union Cabinet had given its nod to introduce the Chit Funds (Amendment) Bill in the parliament.
Since 2016, the Union Government was in the process of drafting a central law to protect people investing in chit fund schemes by bringing in legislation on the same.
Former Union Finance Minister Arun Jaitley had in the 2017-18 Budget announced that the government will amend the 'Multi-state cooperative Act' as there was an urgent need to protect the poor from dubious chit fund schemes, operated by unscrupulous entities. (ANI)

Get the App

What to Read Next

Politics

29 lakh women received funds under Mahila Udyamita Scheme: Sarma

29 lakh women received funds under Mahila Udyamita Scheme: Sarma

"Till today, 29 lakh women have received the fund of the Mahila Udyamita Scheme. Today, this fund will be distributed in Sonai and East Goalpara constituency. A total of 33.50 lakh women will get benefits," Himanta Biswa Sarma told reporters.

Read More
General News

Assam CM launches distribution of MMUA funds to beneficiaries

Assam CM launches distribution of MMUA funds to beneficiaries

Assam Chief Minister Himanta Biswa Sarma on Thursday launched the distribution of seed capital under Mukhyamantri Mahila Udyamita Abhiyaan (MMUA) to women beneficiaries by handing over cheques amounting to Rs. 10,000 to each of the 5,155 women beneficiaries of Jalukbari Legislative Assembly Constituency at a programme held at Swahid Smarak Kshetra in Boragaon in Guwahati.

Read More
General News

Tamil Nadu Minister accuses PM of making false claims about DMK

Tamil Nadu Minister accuses PM of making false claims about DMK

"No funds have been given under the Jal Jeevan Mission. Money has also not been allocated for the education sector, and even for the MGNREGA scheme. The people of Tamil Nadu are well aware of the lack of financial support from the Centre," he said.

Read More
General News

GI-tagged joha rice from Assam exported to UK, Italy; APEDA facil

GI-tagged joha rice from Assam exported to UK, Italy; APEDA facil

In a major boost to India's agricultural exports, the Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce and Industry facilitated the first export consignment of 25 metric tonnes of GI-tagged Joha rice from Assam to the United Kingdom and Italy on March 12, 2026, in collaboration with the Assam Agriculture Department.

Read More
General News

Bhilwara's Textile Industry faces uncertainty

Bhilwara's Textile Industry faces uncertainty

The textile industry in Bhilwara, a city renowned for its extensive fabric production, is currently facing significant challenges as the ongoing crisis in the Middle East casts uncertainty over exports and operations. The situation has escalated as the crisis in the Middle East has begun to impact local businesses. "Textile industries are facing some trouble due to the war, and if the war continues in the near future, exports from here could be affected," Jain noted. He emphasised the current predicament, saying, "Currently, export orders are on hold. They are either stalled locally or at the port, or have been put on hold by other parties."

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.