Financial sector to stand on strong legal and structural platform.
– Standing council of experts to analyse financial sector and check transactional costs.
– 12500 plus crore for capital infusion of public banks.
– Financial Inclusion on course – all Regional Banks already on Core Banking System.
– All public Sector banks to have ATMs by 2013 end.
– Exclusive banks run by Women and lending mostly to women to be set up. First Women’s bank as a public sector bank to be set up with 1000 Crore as initial investment.
– Rural Housing Fund to refinance lending institutions. Rs 6000 Crore for the fund in 13-14.
– A fund for Urban housing to be setup – NHB has been allotted 2000 crore for this task.
– All towns in India with >10000 population to have at least one LIC and General Insurance office.
– 10 lakh motor policy claims to be settled immediately.
– Rashtriya Swastya Bhima to cover – Rickshaw, Rag pickers, Mine workers
Capital Market –
– FII, Sub accounts – Designated Depository Participants will be allowed to register Foreign Portfolio investors.
– FII and FDI confusion to be simplified. 10% of stake will be qualified as FII, >10% stake by investor will be called as FDI.
– FIIs to be allowed to participate in Currency exchange. And use investments in Corporate bonds as collateral.
– SEBI to support Angel Investor pools.
– Startups to be allowed to list on SME exchange without IPO.
– Debt market – Banks and Primary dealers will be allowed to trade in debt segment.
– MF distributors will be allowed to become members of Stock Exchange.