INSUBCONTINENT EXCLUSIVE:
Parliament passes bill which will help boost the small and medium enterprises sectorParliament on Thursday passed the Factoring Regulation
(Amendment) Bill, 2021, which will help the micro, small and medium enterprises (MSME) sector by ensuring enhanced working capital
assistance and cash flow for it.The bill, that was passed in the Rajya Sabha on Thursday, had been cleared by the Lok Sabha on July 26.The
legislation, helmed by Finance Minister Nirmala Sitharaman, was passed after only a 15 minutes discussion amid vociferous protests by
opposition MPs over Pegasus, inflation and farmers issues."It is a very important Bill which will benefit the MSMEs of this country because
their receivables to a third party
If the third party is going to make an immediate availability of funds, they shall be able to move their business smoothly
There are several such advantages in factoring from payment of the seller," Ms Sitharaman said.Several suggestions from the U K Sinha
committee have been incorporated in the bill, post which it was brought in September 2020 and then referred to the standing committee of the
