Factoring Regulation (Amendment) Bill passed


Posted on 29 July 2021


For Illustration Purpose Only.

The Factoring Regulation (Amendment) Bill, 2021, was passed by the Rajya Sabha on Thursday, while the Opposition resumed its protests against the government over the alleged use of Pegasus spyware and the agriculture regulations passed last year. The Bill, which Finance Minister Nirmala Sitharaman argued will benefit Micro, Small and Medium Enterprises (MSME), was passed just 15 minutes after it was introduced, with only a brief debate and MPs electing to table their views rather than speak out in the midst of the clamour. The Lok Sabha passed the bill on Monday. Ms. Sitharaman stated that the Bill would give MSMEs access to approximately 9,000 NBFCs (non-banking financial companies), up from the present seven.


Key Points

  • The Factoring Regulation (Amendment) Bill, 2021, was passed by the Rajya Sabha on Thursday.

  • Ms. Sitharaman stated that the Bill would give MSMEs access to approximately 9,000 NBFCs (non-banking financial companies), up from the present seven.