The government has approved micro financial sector (development and regulation bill,2011).The decision was taken in the Cabinet meeting held in New Delhi yesterday which was chaired by the Prime Minister Dr. Manmohan Singh.The bill proposes to make it mandatory for micro-finance institutions to be registered with RBI and have minimum net-owned funds of 5 lakh rupees.In another decision, the Cabinet Committee on Economic Affairs CCEA yesterday approved the proposal for implementation of Indira Gandhi Matritva Sahyog Yojna in Chhatrapati Sahuji Maharaj Nagar district of Uttar Pradesh.The CCEA also approved the amendments in the special scholorship scheme for Jammu and Kashmir by including students who passed the class 12th or equivalent exam from CBSE affiliated schools in the state.Earlier, this scheme was opened to only those students who passed the 12th or the equivalent exams from the Jammu and Kashmir Board.