In yet another decision, she said cabinet approved the proposal to bring India infrastructure finance company limited under the supervision of Reserve Bank of India.

This will enhance the professional capability of the company and increased its capital base from two thousand to five thousand crore rupees .

It can further be increased to eight thousand crore with the approval of the Finance Minister.

Mrs. Ambika Sioni said that Cabinet also gave nod for the introduction of the security interests and recovery of death loss Bill 2011 in the Winter Session of Parliament.

She said that proposed amendment will enable banks to improve their operational efficiency, deploy more funds for credit disbursement to retail investors, home loan borrowers without fearing for recovery.

The Minister added that it would also promote innovation in credit information.

In yet another decision, Cabinet approved partial modification of fund allocation under the national rural drinking water programme.

This provides for modifying the criterion of rural population managing rural drinking water supply schemes.

The Cabinet also gave in principle approval for formation of joint venture of Hoogly Dock and Port engineers limited with a private sector player selected through an open bidding process.