|
New Delhi, Sep 23: Parliament on Wednesday passed a Bill that seeks to provide a legal framework for bilateral netting of qualified financial contracts.
Finance Minister Nirmala Sitharaman termed the Bill as critical for financial stability in the country, and said it brings in a firm legal basis for bilateral netting for two counter parties.
“Bilateral Netting of Qualified Financial Contracts Bill covers financial contracts entered into on bilateral basis outside clearing system. It’ll empower financial regulators RBI, SEBI, IRDAI etc. They’ll notify contract under its purview as qualified…
