The Assam government has decided to bring the micro-financial institutions under the Reserve Bank of India (RBI).

The State Cabinet in its meeting on Sunday, held under the chairmanship of Assam chief minister Sarbananda Sonowal, passed the Act in order to implement the decision.

“Cabinet passed the act to bring Micro Financial Institutions under RBI,” the Chief Minister’s Office (CMO) tweeted.

During its meeting on Sunday, the Sonowal Cabinet also took a slew of decisions.

“Assam Mala: Simplification of land provision” has been approved by the Cabinet for direct purchase of land.

The Cabinet also decided to change the nomenclature of ‘Miri’ to ‘Mishing’.

“The Cabinet decided to change nomenclature of ‘Miri’ to ‘Mishing’,” the CMO said.

The State Cabinet approved the formulation of the Medical College and Hospital Critical Care Service Rule.

New Policy for Agarwood Cultivation has also been approved by the State Cabinet.

Agricultural Income Tax holidays for 3 years has been approved.

The Cabinet approved the holiday list for 2021.

General holidays will be 34 days and the restricted holidays will be 31 days.

The Cabinet approved the provision for rehabilitation of erosion affected people.

Grant will be provided in three categories – Rs 5 lakh, Rs 1.5 lakh and Rs 1 lakh.

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