Important Cabinet Approvals- 23rd August

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given the following set of approvals. The full list of Cabinet Approvals is given as follows.


Cabinet has approved-
1. Setting up of a Commission to examine the Sub-Categorization within OBCs.
2. MoU between India and Nepal for laying down implementation arrangement for construction of a Closure of loss making Bharat Wagon and Engineering Company.
3. MoU between India and Nepal on Drug Demand Reduction and Prevention of Illicit Trafficking in Narcotic Drugs and Psychotropic Substances and precursor chemicals and related matters.
4. Cabinet gives in-principle approval for Public Sector Banks to amalgamate through an Alternative Mechanism (AM). The salient features of the approval Framework for Consolidation of Public Sector Banks are as follows:
  • The decision regarding creating strong and competitive banks would be solely based on commercial considerations.
  • The proposal must start from the Boards of Banks.
  • The proposals received from Banks for in-principle approval to formulate schemes of amalgamation shall be placed before the Alternative Mechanism (AM).
  • After in-principle approval, the Banks will take steps in accordance with law and SEBI’s requirements.
  • The final scheme will be notified by Central Government in consultation with the Reserve Bank of India.
Source- Press Information Bureau (PIB)

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