A Monthly Newsletter of Indian Institute of Banking & Finance
(Rs. 40/- per annum)
(ISO 9001 : 2008 CERTIFIED)
Committed to
professional excellence
Volume No. : 6
Issue No. : 8
March 2014
Interim Union Budget Proposals : 2014-15
q
Provision
of `11,200 crore for capital infusion in
public sector banks in 2014-15.
q
Ministry of MSME to create the ‘India Inclusive
Innovation Fund’ to promote grassroots innovations
with social returns to support enterprises in the
MSME sector. It is proposed to make an initial
contribution of `100 crore to the corpus of the
Fund.
q
Agricultural credit target of `8,00,000 crore for
2014-15. Continuation of interest subvention
(subvention of 2 percent and an incentive of 3
percent for prompt payment) scheme on farm loans
in 2014-15.
q
A moratorium period for all education loans taken
upto 31/03/2009 and outstanding on 31/12/2013.
Government to take over the interest liability for
outstanding as on 31/12/2013.
q
Centrally Sponsored Schemes to be restructured into
66 programmes for greater synergy.
q
To establish a non-statutory Public Debt
Management Agency (PDMA) that can begin
work in 2014-15.
q
To amend the Forward Contracts (Regulation)
Act to strengthen the regulatory framework of the
commodity derivatives market.
q envisaged to deepen the Indian financial
Steps
markets : comprehensively revamp the ADR /
GDR scheme and enlarge the scope of Depository
Receipts, liberalise the rupee-denominated corporate
bond market, deepen and strengthen the currency
derivatives market to enable Indian companies to
fully hedge against foreign currency risks, create
one record for all financial assets of every individual
and enable smoother clearing and settlement for
international investors looking to invest in Indian
bonds.
q deficit in 2014-15 estimated to be 4.1 percent.
Fiscal
The mission of the
Institute is "to develop
professionally qualified and
competent bankers and...