The finance minister has promised a Budget like “never before” but issues at hand, especially the health of MSMEs, are so critical and government resources so constrained that such a wide promise may be difficult to fulfil.
Bilateral Netting refers to offsetting of all claims arising from dealings between two parties, to determine a net amount payable or receivable from one party to other. While Qualified financial contracts entails any bilateral contract notified as a QFC by the relevant authority.
On September 22, Finance Minister Nirmala Sitharaman pushed the Banking Regulation (Amendment) Bill, 2020 through Rajya Sabha, paving its way to becoming an Act after the president’s signature.