Page 37 - NIS English December16-31
P. 37
Cabinet Decisions
TOWARDS A NEW HORIZON
Amalgamations in banking sector, infusion of funds in infra bonds and
MoUs in physical education signalling towards a positive future ahead
DECISION: Scheme of amalgamation of DECISION: Memorandum of Understanding
Lakshmi Vilas Bank with DBS Bank India on cooperation in the field of physical education
Ltd approved giving benefits to about 20 and sports among BRICS Countries
Lakh account holders
BENEFITS:
BENEFITS: l Cooperation in the field of sports among the
l This will protect about 20 Lakh depositors’ five countries will help in expanding knowledge
interest and will give financial stability and expertise in the area of sports science,
to the Bank. LVB had been under sports medicine, coaching techniques etc. This
moratorium for a period of 30 days would result in improvement in performance of
l LVB will be amalgamated with DBIL from sportspersons in international tournaments
the appointed date and with this there l Benefits arising from cooperation in the field
will no further restrictions on withdrawal of sports among the five countries would
l There will not be any job risk for about be equally applicable to all sportspersons
4,000 employees who will be retained as irrespective of their caste, creed, region,
per previous terms and conditions religion and gender
DECISION: Capital infusion of Rs 6,000 DECISION: Memorandum of Understanding
Crore into NIIF Infrastructure Debt Financing between the Institute of Chartered
Platform comprising Aseem Infrastructure Accountants of India (ICAI) and the
Finance Ltd and NIIF Infrastructure Finance Vereniging van Registercontrollers (VRC) of
Ltd approved the Netherlands
BENEFITS: BENEFITS:
l It will contribute nearly Rs 1 Lakh Crore in l It would help in the development of the
debt to the infrastructure sector over the Accounting, Financial and Audit Knowledge
next 5 years Base between the Netherlands and India
l This process will also help relieve exposure l It would help to generate greater
of banks to infrastructure projects and free employment opportunities for Indian
up space for new green-field projects. Chartered Accountants
l It is also expected that the Debt platform l It would benefit the ICAl members and
will raise debt from the Bond market and would provide an additional impetus to
serve as a trusted intermediary prospects of the ICAI members
New India Samachar 35
