Rajya Sabha approved the Regulation of Factor (Assignments Receivable Bill, 2011) on 27 December 2011 to help micro, small and medium enterprises.The bill aims at regulating assignment of receivables by making provision for registration of the rights and obligations of parties to contract. It applies to all types of industry whether it is small, medium or big. It will help mitigate the payment problem of the MSME units. Factors will be regulated by the Reserve Bank of India.
The Lok Sabha had already passed the bill.
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