Bilateral Netting refers to offsetting of all claims arising from dealings between two parties, to determine a net amount payable or receivable from one party to other. While Qualified financial contracts entails any bilateral contract notified as a QFC by the relevant authority.
On September 22, Finance Minister Nirmala Sitharaman pushed the Banking Regulation (Amendment) Bill, 2020 through Rajya Sabha, paving its way to becoming an Act after the president’s signature.