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Cabinet meeting: From coronavirus screening at 21 airports to PSU banks merger, here are highlights

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New Delhi, Mar 04: Prime Minister Narendra Modi on Wednesday chaired a Cabinet meeting in which several proposals were made for the development of India.

Cabinet meeting: From coronavirus screening at 21 airports to PSU banks merger, here are highlights

After the meeting, Union Ministers Prakash Javadekar and Nirmala Sitharaman briefed the media about the meeting.

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Here are the key highlights of the meeting:

  • NRIs who are Indian nationals will get permission to invest 100% in Air India. It will pave the way for fresh investments
  • Screening going on at 21 airports for coronavirus. In the last 10 months, more than 6 lakh passengers have been screened
  • India is going to start 19 new coronavirus testing labs
  • Prime Minister Narendra Modi is personally monitoring the situation in the wake of coronavirus.
  • 72 changes in 65 sections in the Companies Act which was passed in 2013 suggested
  • Govt's priority is to decriminalise the Companies Act. The quantum of penalty will be reduced.
  • Exemption to companies with obligation to spend ₹50 lakh or less under the CSR from the requirement of having a CSR committee
  • After amalgamation, there will be 12 PSU banks only
  • Bank mergers will not affect operations of the banks
  • Cabinet has approved the Companies (Second Amendment) Bill, 2019. The bill removes criminality under the Act. "This Bill furthers ease of living for law-abiding corporates and de-clogs the criminal justice system in the country

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