Rajya Sabha passes MMDR Amendment Act

The government has managed to pass the amendments suggested to the Mines and Minerals Development and Regulation (MMDR) Act in the Rajya Sabha on Monday, reports CNBC-TV18.

This paves the way for transfer of captive mines in the country without the need for auction and will unclog a number of stuck deals in the mining sector. This will mean higher number of Merger and Acquisition (M&A) deals can now go through with ease. 

The bill, which was passed in the Lok Sabha in March is likely to be implemented in couple of months once the President gives a go ahead.  Watch video for more...