President okays State Financial Bill

NEW DELHI, SEPT 12: The President has given his assent to the State Financial Corporations (amendment) Bill 2000. The act, passed during t...

NEW DELHI, SEPT 12: The President has given his assent to the State Financial Corporations (amendment) Bill 2000. The act, passed during the monsoon session of parliament, has come into force with immediate effect.

The State Financial Corporations (amendment), Act seeks to enable the state financial corporations to equip themselves to the increasingly emerging competitive environment thrown by the globlization of the Indian economy. It enlarges the shareholder base of the corporations, provides them with greater functional autonomy and operational flexibility.

It also increases ceiling on the amount of assistance which may be granted by the corporations to an industrial concern, grants autonomy to the corporations in the matters of investment of funds, vests more powers in the general body of shareholders of the corporations, and empowers the state governments to issue guidelines on question of policy to the state Financial corporations as long as they do not hold less than 50 per cent of the issued equity share captial. In other cases the state government may advise the financial corporations on the matters of policy.

Leopard’s growl and a lie: How a blood-stained rock and a forensic report exposed a murder

Cities34 min ago

In December 2024, a woman was found dead in a sugarcane field in Maharashtra, sparking public outrage over the human-wildlife conflict. The initial statement of a leopard attack was later revealed to be a planned murder by the victim's husband's nephew and a laborer. They were arrested and a charge sheet was filed against them.

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