Government to extract Banking Regulation Bill on Day 1 of Monsoon Session

Finance Minister Nirmala Sitharaman will move a proposal in the Lok Sabha to withdraw the Bill.

The Bill was introduced in the lower House on March 3 this year during the Budget Session to amend the Banking Regulation Act, 1949. ians pic

The Central government is all set to withdraw Banking Regulation (Amendment) Bill, 2020 for its fresh introduction on Day 1 of the Monsoon Session which will begin from Monday.

Finance Minister Nirmala Sitharaman will move a proposal in the Lok Sabha to withdraw the Bill.

The Bill was introduced in the lower House on March 3 this year during the Budget Session to amend the Banking Regulation Act, 1949. However, the reasons for withdrawal of the Bill could not not be known.

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Sitharaman's statement containing reasons for which the Bill is being withdrawn was circulated to all members earlier in the day. Later in the day, Parliamentary Affairs Minister Pralhad Joshi will introduce the salary, allowances and pension of Members of Parliament (Amendment) Bill, 2020, Lok Sabha legislative business list reveals.

The Bill seeks immediate legislation by promulgation of the salary, allowances and pension of Members of Parliament (Amendment) Ordinance, 2020. It will be among the 23 new Bills, including 11 that will replace ordinances, which has been listed by the government for the session.

Consumer Affairs, Food and Public Distribution Minister Ram Vilas Paswan will later introduce the Essential Commodities (Amendment) Bill, 2020 to amend the Essential Commodities Act, 1955.

Six new Bills will be introduced later with Cabinet Ministers Harsh Vardhan coming with the Assisted Reproductive Technology (Regulation) Bill, 2020 for the regulation and supervision of the assisted reproductive technology clinics and the assisted reproductive technology banks.

The Bill aims prevention of misuse, safe and ethical practice of assisted reproductive technology services and for matters connected therewith.

Finance Minister Sitharaman will also introduce the Bilateral Netting of Qualified Financial Contracts Bill, 2020 to ensure financial stability and promote competitiveness in Indian financial markets by providing enforceability of bilateral netting of qualified financial contracts. The Minister will also introduce the Factoring Regulation (Amendment) Bill, 2020 to amend the Factoring Regulation Act, 2011.

Union Agriculture Minister Narendra Singh Tomar will introduce the Farmers' Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 for the creation of an ecosystem where the farmers and traders enjoy the freedom of choice relating to sale and purchase of farmers' produce.

The purpose of the Bill is to facilitate remunerative prices through competitive alternative trading channels to promote efficient, transparent and barrier-free inter-state and intra-State trade and commerce of farmers' produce outside physical premises of markets or deemed markets notified under various state agricultural produce market legislations. It will also be a facilitative framework for electronic trading.

Tomar will lay an explanatory statement before the house for immediate legislation by promulgation of the Farmers' Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020 with the introduction of the Bill.

The Agriculture Minister will also introduce the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 to provide for a national framework on farming agreements that protects and empowers farmers to engage with agri-business firms, processors, wholesalers, exporters or large retailers for farm services and sale of future farming produce at a mutually agreed remunerative price framework in a fair and transparent manner.

The Bill also replaces the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020.

The Business list mentions that the government will introduce two Bills-- The National Commission for Homoeopathy Bill, 2020 and the National Commission for Indian System of Medicine Bill, 2020-- for their passage.

Union AYUSH Minister Shripad Yesso Naik will move the National Commission for Homoeopathy Bill, 2020 that seeks improvement in the medical education system ensuring availability of adequate and high quality Homoeopathy medical professionals in all parts of the country.

The Bill promotes equitable and universal healthcare that encourages community health perspective and makes services of Homoeopathy medical professionals accessible to all the citizens.

The Bill also promotes national health goals, encourages Homoeopathy medical professionals to adopt latest medical research in their work and to contribute to research; an objective periodic and transparent assessment of medical institutions and facilitates maintenance of a Homoeopathy medical register for India and enforces high ethical standards in all aspects of medical services.

It is flexible to adapt to the changing needs and has an effective grievance redressal mechanism.

The National Commission for Indian System of Medicine Bill, 2020 aims for a medical education system that improves access to quality and affordable medical education. The purpose is to ensure availability of adequate and high quality medical professionals of Indian System of Medicine in all parts of the country.

It promotes equitable and universal healthcare that encourages community health perspective and makes services of such medical professionals accessible to all the citizens, promotes national health goals, encourages such medical professionals to adopt the latest medical research in their work and to contribute to research.

The Bill will focus on the objective periodic and transparent assessment of medical institutions and facilitates maintenance of a medical register of Indian System of Medicine for India and enforces high ethical standards in all aspects of medical services, and flexible to adapt to the changing needs with an effective grievance redressal mechanism.

However, the beginning of the Parliament's 36 sittings-- 18 each for both the Lok Sabha and the Rajya Sabha-- will start at 9 a.m. on Monday with Lok Sabha giving obituary references to 15 parliamentarians who passed away this year.

Former President and member of Fourteenth and Fifteenth Lok Sabhas) Pranab Mukherjee, sitting MP H. Vasanthakumar, Pandit Jasraj (Eminent Vocalist); Gurdas Singh Badal (Member, Fifth Lok Sabha); Dr Nepal Singh (Member, Sixteenth Lok Sabha); Ajit Jogi (Member, Twelfth and Fourteenth Lok Sabhas); P. Namgyal (Member, Seventh, Eighth and Eleventh Lok Sabhas); Paras Nath Yadav (Member, Twelfth and Fourteenth Lok
Sabhas); will be remembered by the Lok Sabha members on day one of the Monsoon Session.

Besides, Madhav Rao Patil (Member, Twelfth Lok Sabha) and Haribhau Madhav Jawale (Member, Fourteenth and Fifteenth Lok Sabhas); Saroj Dubey (Member, Tenth Lok Sabha); Lalji Tandon (Member, Fifteenth Lok Sabha); Kamal Rani (Member, Eleventh and Twelfth Lok Sabhas); Chetan Chauhan (Member, Tenth and Twelfth Lok Sabhas); and Surendra Prakash Goel (Member, Fourteenth Lok Sabha) will also be remembered by all.

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