- PM Modi visit USAOnly the mirror in my washroom and phone gallery see the crazy me : Sara KhanKarnataka rain fury: Photos of flooded streets, uprooted treesCannes 2022: Deepika Padukone stuns at the French Riviera in Sabyasachi outfitRanbir Kapoor And Alia Bhatt's Wedding Pics - Sealed With A KissOscars 2022: Every Academy Award WinnerShane Warne (1969-2022): Australian cricket legend's life in picturesPhotos: What Russia's invasion of Ukraine looks like on the groundLata Mangeshkar (1929-2022): A pictorial tribute to the 'Nightingale of India'PM Modi unveils 216-feet tall Statue of Equality in Hyderabad (PHOTOS)
Indian men's hockey team captain Harmanpreet Singh has been named Player of the Year 2024
- World Boxing medallist Gaurav Bidhuri to flag off 'Delhi Against Drugs' movement on Nov 17
- U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals
- FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup
- Hockey, cricket, wrestling, badminton, squash axed from 2026 CWG in Glasgow
- FIFA : Over 100 female footballers urge FIFA to reconsider partnership with Saudi oil giant
Government may face heat in Parliament on lower growth Last Updated : 02 Mar 2020 05:51:11 AM IST Finance Minister Nirmala Sitharaman (file photo) Finance Minister Nirmala Sitharaman will be facing questions on the seven-year-low growth rate of 4.7 per cent in the Budget session's second leg starting from Monday while the session may see possible passage of the Banking Regulation Act Amendment Bill to bring multi-state cooperative banks under the RBI's regulation.
Pulled down by a contraction in manufacturing, India's GDP growth slipped to a nearly seven-year low of 4.7 per cent in the third quarter (October-December) 2019, data released by the National Statistical Office (NSO) on Friday showed. The Gross Domestic Product (GDP) growth, in the corresponding quarter of 2018-19, was recorded at 5.6 per cent.
The Finance Minister has termed the 4.7 per cent growth as showing "steadiness" in the economy.
In this session, the Parliament will likely clear the Bill to help prevent any further recurrence of Punjab and Maharashtra Cooperative Bank-like crisis, sources said.
The government has increased deposit insurance cover by five-fold to Rs 5 lakh to ensure the security of public money in banks.
The Cabinet had, last month, approved an amendment to the Banking Regulation Act to bring multi-state cooperative banks under the central bank's purview.
There are 1,540 cooperative banks with a depositor base of 8.60 crore having total savings of about Rs 5 lakh crore. The proposed law seeks to enforce banking regulation guidelines of the RBI in cooperative banks in order to increase professionalism and improve corporate governance, while administrative issues will still be guided by Registrar of Cooperatives.
The Finance Bill 2020 and The Direct Tax Vivad Se Vishwas Bill were introduced in the session that started on January 31 and ended on February 11. The second half of the Budget session is scheduled to conclude on April 3.IANS New Delhi For Latest Updates Please-
Join us on
Follow us on
172.31.16.186