PM Modi Cabinet meeting Briefing Today: The Union Cabinet on Wednesday promulgated an ordinance to bring government banks including including 1482 urban cooperative banks and 58 multi-state cooperative banks under supervisory powers of Reserve Bank of India (RBI). Addressing the media,Union minister Prakash Javadekar said that the RBI’s powers as they apply to scheduled banks will apply for cooperative banks as well. He also said that the Union Cabinet has approved 2% interest subvention to Shishu loan category borrowers under PM Mudra Yojna. The Union Cabinet, he said, also approved the extension of tenure of the Commission constituted under Article 340 of the constitution to examine the issue of sub-categorization within Other Backward Classes, by six months – upto January 31 next year. Union Minister of Fisheries, Animal Husbandry and Dairy, Giriraj Singh, said that Animal Husbandry Infrastructure Development Fund will be set up and the government will provide 3% interest subvention to eligible beneficiaries.