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RRBs' capital infusion extended to 2019-20

Livemint:  July 05, 2018

New Delhi: The government on Wednesday extended its capital infusion scheme for regional rural banks (RRBs) to 2019-20 with the aim of strengthening their lending capacity.

The scheme, which was started in FY11 was extended twice earlier, with the second one being up to March 2017. Under the latest extension, ₹343 crore will be infused in these entities for the three years to FY20, according to an official statement released after the Union cabinet approved the extension.

RRBs, which are jointly owned by the Union and state governments and sponsor banks, were set up to provide credit mainly to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs in rural areas.

The cabinet also decided to accede to the World Intellectual Property Organization (WIPO) Copyright Treaty and WIPO Performers and Phonograms Treaty, which extends coverage of copyright to internet and the digital environment.

Information technology minister Ravi Shankar Prasad said the treaties provide a framework for creators and right owners to use technical tools to protect their work.

The government also enhanced the spending on Air India to maintain certain flights for the President, Vice President and Prime Minister. The cost of this operation was last fixed in 2011.

The cabinet also approved the DNA Technology (Use and Application) Regulation Bill that aims to expand the application of DNA-based forensic technologies to support and strengthen the justice delivery system. Forensic DNA profiling is of proven value in solving cases involving offences categorised as affecting the human body such as murder, rape, human trafficking, or grievous hurt, and those against property including theft, burglary, and dacoity.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.