• The Union Cabinet chaired by Prime Minister Narendra Modi has given its in-principle approval for setting up a new Major Port at Vadhavan near Dahanu in Maharashtra. The new Major Port will be established on the basis of land lord model. The projected cost of the Vadhavan Port is over Rs 65,000 crore. 
  • The Union Cabinet chaired by PM Narendra Modi has approved to bestow the status of Institution of National Importance to the five IIITs. The status will be provided with the inception of the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020. The bill will provide the status of Institutions of National Importance to the remaining five IIITs along with the existing 15 IIITs in PPP mode. The 5 IIITs in PPP mode includes IIITs in Bhopal, Raichur, Bhagalpur, Agartala and Surat.
  • The Union Cabinet has approved amendments to the Banking Regulation Act to empower India’s Central Bank RBI to have better control over urban co-operative banks and multi-state cooperative banks. These amendments will apply to the urban co-operative banks and multi-state cooperative banks. In present, cooperative banks are governed by dual control of cooperative societies as well as the RBI. While the role of cooperative society includes incorporation, registration, management, recovery, audit, supersession of board of directors and liquidation, the central bank’s role is responsible for regulatory functions.
  • The constitution of “22nd Law Commission of India” receives Cabinet’s approval. The commission will function for a duration of 3 years from its date of inception. This Commission will be responsible for giving recommendations on different aspects of law which are entrusted to it.
  • the 2nd Phase of the Swachh Bharat Mission Grameen has received the Cabinet’s approval. The 2nd phase will last till 2024-25 and ensure that everyone uses a toilet. The 2nd phase of the mission has a total estimated budgeted financial implication of 52 thousand 497 crore rupees and would focus on “Open Defecation Free Plus (ODF Plus)”.