In a bid to save gullible investors from ponzi schemes, the government Wednesday approved proposals to amend the Banning of Unregulated Deposit Schemes Bill, 2018 that seeks to put in place a mechanism by which such depositors can be compensated.

The Cabinet Committee on Economic Affairs gave approval to the Proposal of the Ministry of Information and Broadcasting regarding Prasar Bharati’s “Broadcasting Infrastructure and Network Development” scheme at a cost of Rs.1054.52 crore for 3 years from 2017-18 to 2019-20.

In line with Prime Minister Narendra Modi’s announcement to tackle the menace of camcording and film piracy, the Cabinet approves amendments to the Cinematograph Act, 1952; proposes maximum punishment of 3 year imprisonment and 10 Lakh rupees fine. Meanwhile, Producers Guild of India have applauded govt for amendment to Cinematograph Act, 1952.