Answer: Factoring Regulation (Amendment) Bill, 2021
Notes: Factoring Regulation (Amendment) Bill, 2021 was passed on July 29 in Rajya Sabha and on July 26 in Lok Sabha. This bill was passed to bring changes in the legislation for helping the MSME (Micro, small and medium enterprises) sector. It will help in improving the availability of working capital for MSMEs. The contribution of MSMEs to GDP is high. This sector contributes about 30% to GDP and Government is aiming to increase the contribution of MSMEs to 40% to provide benefits to the rural population and poor people.
