<h1>Cabinet Approves Bill to Ban Unregulated Deposit Schemes, Aiming to Protect Individuals from Illicit Financial Activities.</h1> The Union Cabinet, led by the Prime Minister, has approved the Banning of Unregulated Deposit Schemes Bill, 2019, which will be introduced in the upcoming Parliament session. This Bill aims to replace the Banning of Unregulated Deposit Schemes Ordinance, 2019, set to expire six weeks after Parliament reconvenes. The legislation seeks to address and eliminate illicit deposit-taking activities that exploit regulatory gaps, deceiving vulnerable individuals of their savings. Previously, the Lok Sabha passed the Bill with amendments, but it was not considered by the Rajya Sabha before adjournment.