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Lok Sabha passes Factoring Regulation Amendment Bill to help MSMEs

The Factoring Regulation (Amendment) Bill, which was introduced on September 14, was passed by voice vote after a brief discussion

BJP MP Vikas Mahatme arrives during the ongoing Monsoon Session of Parliament, amid the coronavirus pandemic, in New Delhi
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Minister of State for Finance Anurag Thakur said it would greatly help the financial system

Press Trust of India
Lok Sabha on Sunday passed a bill to amend the Factoring Regulation Act that seeks to help micro, small and medium enterprises by providing additional avenues for getting credit facility.

The Factoring Regulation (Amendment) Bill, which was introduced on September 14, was passed by voice vote after a brief discussion.

The Factoring Regulation Act, 2011 was enacted to provide for regulating the assignment of receivables to factors, registration of factors carrying on factoring business and the rights and obligations of parties to the contract for assignment of receivables.

Minister of State for Finance Anurag Thakur said it would greatly help the financial system.

"The

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First Published: Sep 20 2020 | 11:39 PM IST

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