Parliament passed Factoring Regulation (Amendment) Bill, 2021

Parliament has passed the Factoring Regulation (Amendment) Bill, 2021 with the Rajya Sabha approving it recently. The bill has already been passed by the Lok Sabha.

Daily Current Affairs Quiz 2021

The bill seeks to amend the Factoring Regulation Act, 2011 to widen the scope of entities which can engage in factoring business.

Factoring business is a business where an entity acquires the receivables of another entity for an amount.

Factor can be a bank, a registered non-banking financial company or any company registered under the Companies Act.