Many important decisions taken in cabinet meeting, investment of Rs 6000 crore approved in NIIF

An investment of Rs 6,000 crore in the National Investment and Infrastructure Fund (NIIF) was approved by the Cabinet on Wednesday. This amount will be invested in the next two years. With this, more than 1 lakh crore rupees can be raised through the bond market for infrastructure development. In addition, the Cabinet approved the proposal of the troubled Lakshmi Vilas Bank to merge with DBS Bank India Limited (DBIL). In the cabinet meeting held on Wednesday, FDI was also approved in the ATC.  

The cabinet has also approved a memorandum of understanding (Memorandum of Understanding) between the Institute of Chartered Accounts of India (ICAI) and the Verenizing Van Register Controllers (VRC) of the Netherlands. Prakash Javadekar held a press conference and informed about the decisions taken in the cabinet meeting.

He said that several important decisions were taken in the meeting of Cabinet and Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi. He said that the thrust of the Modi government is to promote a self-reliant India. For this, the debt market will now be leveraged to raise capital.

Explain that the Reserve Bank had ordered the merger of Lakshmi Vilas Bank with DBS Bank. 2480 crore Foreign Direct Investment (FDI) in ATC Telecom Infra has also been approved by the cabinet. ATC Pacific Asia has acquired 12 per cent shares of Tata group company ATC.