Key Decisions of Union Cabinet Meeting

Current context: Important bills & schemes were passed by the Union Cabinet chaired by Prime Minister Narendra Modi in its meeting on 10th July 2019

Bills & schemes approved:

• Banning of Unregulated Deposited Scheme Bill, which says that SEBI and RBI approved deposits will be allowed, to tackle the menace of illicit deposit-taking activities in the country
• The third phase of Pradhan Mantri Gram Sadak Yojana (PMGSY-III) to make 1.25 lakh km of roads in rural areas by 2024-25
• Group A service status is accorded to the Railway Protection Force that will end stagnation and improve officers career progression
• Amendment to the POCSO Act (Protection of Child from Sexual Offence Act), 2012. The bill will provide stringent punishment including the death penalty for sexual assault of children
• Transgender Persons (Protection of Rights) Bill,2019 providing social, educational and economic empowerment to transgender persons

Question: 

Q.1 Choose the correct statement with respect to the provisions of Banning of Unregulated Deposited Scheme Bill?
a. Only RBI approved deposits are allowed
b. Only SEBI approved deposits are allowed
c. RBI and SEBI approved deposits are allowed
d. No approval of deposits required at all