PM Modi’s cabinet meeting: Co-operative bank now under RBI, many major decisions taken


New Delhi: Many major decisions were taken in the Union Cabinet meeting chaired by Prime Minister Narendra Modi. Information about this meeting held on 7 Lok Kalyan Marg of Delhi was given by Union Information and Broadcasting Minister Prakash Javadekar. The Government of India announced that from now on, all 1540 co-operative banks (Urban and Multi-State Co-operative Banks) will be under the supervision of the Reserve Bank. Apart from this, the government also announced a 2 percent rebate in the interest of Mudra loan holders.

It was believed that after the dispute with China, the Government of India would make some big and important announcements like ‘Self-reliant India Package’, but apart from this, the government made other important announcements related to the economy. Also, the Cabinet Committee on Economic Affairs was also present.

Co-operative bank under RBI

Giving details of the decisions of the cabinet meeting chaired by PM Modi, Union Minister Javadekar said that the government is going to bring a new ordinance under which all 1540 operative banks (1482 urban and 58 multi-state co-operative banks) of the country are supervised by the RBI. I will come He said that there are more than eight and a half crore account holders in these banks and by coming under the ambit of RBI, people will believe that their deposits will be safe. After this decision of the government, the rules related to banking sector will now apply to these operative banks as well. These 1540 banks have deposits of Rs 4 lakh crore 84 lakh.

Space promotion and authorization center to be built

Like the power sector, the government made big announcements for the space sector. Atomic Energy and Space Minister Jitendra Singh said that the government has decided to set up a National Space Promotion and Authorization Center. The center will work closely with ISRO. However, it will not have any role in the technical sector. This organization will guide private industries for space activities.

Money loan interest relief

Not only this, the government has announced a big discount of 2 percent in its interest, giving huge relief to those taking Shishu Mudra loan (small loan) under Mudra loan scheme. This will benefit about 937 million people. Explain that these Shishu Mudra loans are usually taken by poor class workers, carts or small shopkeepers. He told that under Mudra loan, about 9.37 crore people took Shishu loan of 50 thousand rupees. According to information received from the government, these rebates will be effective from June 1, 2020 and will run till May 31, 2021. This will put a surcharge of about Rs 1540 crore on the government.


International Airport approved in Kushinagar

Union Minister Javadekar said that the government has decided to build an international airport at Kushinagar in Uttar Pradesh. The government said that Kushinagar is the center of the Buddhist circuit and many people have to come and go here. A 3-km airstrip has been built in Kushinagar and after the International Airport is built, Airbus will also be able to land here, as well as being an Buddhist circuit, its importance will also increase.

OBC commission extended

The government has decided to extend the time of 6 months to submit the report to the OBC commission. Tell that the work of this commission is to see whether the benefit of reservation reaches all eligible people. The commission does the work of arranging and thinking about it. At present, the government has extended 6 months to submit its report to the Commission for reporting. Now the Commission will be able to submit its report by 21 January 2021.

15 thousand crore project for livestock

The government has approved to bring a large project of 15 thousand crore rupees for livestock development. The basic objective of this project is to benefit the people associated with livestock and its businesses. Under this, milk production and its exports have to be increased. This will also pave the way for employment for millions of people.