Lok Sabha nod for Factoring Amendment Bill

The Lok Sabha on Monday passed Factoring Amendment Bill which seeks to widen the scope of entities which can engage in factoring business and ensure that a strong regulatory and oversight mechanism is put in place. Finance minister Nirmala Sitharaman said the changes in the legislation are aimed at helping the micro, small and medium enterprises (MSMEs) sector. FM noted that the government has accepted the recommendations of the Standing Committee which had last year scrutinised the Bill.