Budget and financial sector: Key highlights

Finance Minister Nirmala Sitharaman today announced the limit for FPIs in corporate bonds is to be raised from 9 per cent to 15 per cent and select government securities are to be fully opened for NRIs.

KEY HIGHLIGHTS

• Select govt securities to be fully opened for NRIs
• Limit for FPIs in corp bonds raised from 9% to 15%
• To float new debt ETF for govt bonds
• Gifty City to set up international bullion exchange
• Credit guarantee scheme for NBFCs extended
• Rs 3,50,000 crore infused in PSU banks in past few years
• Governance reforms in PSU banks to make them more efficient
• PSU banks to be encouraged to raise capital from markets
• Bank deposit insurance cover increased from Rs 1 lakh to Rs 5 lakh
• To take measure to professionalise PSU banks
• To amend bank regulation to strengthen co-op banks
• Proposes to sell govt’s balance holding in IDBI Bank