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Parliament Updates: Lok Sabha clears Banking Regulation (Amendment) Bill; House adjourned till 3 pm tomorrow

Parliament LIVE Updates: The AIMIM leader questioned government's selective intervention in the Yes Bank crisis but not for PMC. 'SBI immediately flowed funds in Yes bank case, but not into PMC bank. What was RBI doing when Yes Bank happened?', he asked

FP Staff September 16, 2020 19:55:14 IST
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Parliament Updates: Lok Sabha clears Banking Regulation (Amendment) Bill; House adjourned till 3 pm tomorrow

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LIVE NEWS and UPDATES

Sept 16, 2020 - 19:38 (IST)

Lok Sabha LATEST Updates

Lok Sabha adjourned till 3 pm tomorrow, 17 September, 2020

Sept 16, 2020 - 19:33 (IST)

Lok Sabha LATEST Updates

Banking Regulation (Amendment) Bill, 2020 passed by Lok Sabha

Sept 16, 2020 - 19:30 (IST)

Lok Sabha LATEST Updates

Govt wants to regulate bank activit, not interfere into 'federalism' : Nirmala Sitharaman

Finance Minister Nirmala Sitharaman responds to queries raised by 32 MPs during the session. She said, "We want to regulate banking activity, with in our power and will not interfere into 'federalism'."

"The financial status of 277 urban cooperative banks is weak. 105 cooperative banks are unable to meet the minimum regulatory capital requirement. 47 banks have net worth in negative. 328 urban cooperative banks have more than 15% gross NPA ratio", she said.

"This Bill does not regulate cooperative banks. The amendment is not for central govt to take over the cooperative banks. It is not for the first time that this regulation of extending some powers to RBI is happening: FM on Banking Regulation (Amendment) Bill, in Lok Sabha," she added.

Sept 16, 2020 - 19:19 (IST)

Lok Sabha LATEST Updates

When will the depositors of PMC bank get their money back?: Supriya Sule

NCP MP Supriya Sule sought a response from Finance Minister Nirmala Sitharaman, as in by when the depositors of PMC bank will get their money back."In how many months, the government will commit to return the depositors money?" she questions. Around 9 lakh family affected because of the PMC bank scam. 80% depositors didn't get their money, she adds.

Sept 16, 2020 - 19:15 (IST)

Rajya Sabha LATEST Updates

Rajnath Singh to address RS on India-China standoff tomorrow 

Defence Minister Rajnath Singh will  be addressing the Rajya Sabha tomorrow, issuing a statement on the border tussle with China at 12 noon, as per The Indian Express.

Sept 16, 2020 - 19:08 (IST)

Lok Sabha LATEST Updates

States not taken into confidence before bringing the Bill: NK Premachandran

RSP MP NK Premachandran on his party's view on the Banking Regulation Amendment Bill said that states were not taken into confidence before bringing the Bill. Many poor marginal population depend on co-operative societies in Kerala, he added. He wants the Bill to be sent to a standing committee for review.

Sept 16, 2020 - 18:42 (IST)

Lok Sabha LATEST Updates

Bill is an attack on federalism: Asaduddin Owaisi

On the Banking Regulation (Amendment) Bill, AIMIM leader Asaduddin Owaisi asks the government why it intervened in the Yes Bank crisis but not in the case of the PMC Bank crisis. The Bill is nothing except an attack on federalism, he adds.


 

Sept 16, 2020 - 18:23 (IST)

Rajya Sabha LATEST Updates

NEP backward looking document, says Congress MP in RS

Terming the new National Education Policy as a "backward looking document", senior Congress leader Mallikarjun Kharge said on Wednesday that education should be based on principles of the Constitution and not on ancient cultural values.

Raising the issue as a Zero Hour mention in Rajya Sabha, Kharge, who was recently elected to the upper house, said the entire NEP is a "backward looking document" that is looking 2000 years back instead of planning and preparing our children for the future.

"Therefore the values of moral education in schools and higher education should be based on the principles of the Constitution and not on ancient cultural values," he added.

-PTI

Sept 16, 2020 - 18:11 (IST)

Lok Sabha LATEST Updates

RBI shouldn't be one stop solution for every problem, says YSRCP MP

Lalu Sri Krishna Devarayalu of YSRCP in the Lower House said that through the Bill the government wants to bring in multi-state and district co-operative banks under RBI regulation, for raising higher capital, "we wholeheartedly welcome the Bill."

"However, let's not make RBI make one stop solution for every problem, we need to preempt the reforms and ensure that banking reforms are undertaken in a timely manner, these points should be considered," he further adds.

Sept 16, 2020 - 17:39 (IST)

Lok Sabha LATEST Updates

BSP, Shiv Sena, JDU welcome Banking Regulation (Amendment) Bill

The banking sector has faced many large scale frauds, BSP MP Sangeeta Azad told the Lower House, but welcomed the Bill. Shiv Sena, too, supported the Bill saying they are looking for a quick resolution for PMC bank scam.

However Azad questioned the decision of government to give complete control to the RBI. It could be misused, she says.

Shiv Sena supports the Banking Regulation (Amendment) Bill, said member Ganjanan Kirtikar "We are also looking for quick resolution of PMC bank scam". Additionally, JD(U) also supports the Bill.

Parliament LATEST Updates: The banking sector has faced many large scale frauds, BSP MP Sangeeta Azad told the Lower House, but welcomed the Bill. Shiv Sena, too, supported the Bill saying they are looking for a quick resolution for PMC bank scam.

Congress leader's tweet was a dig at Amit Shah who had earlier used the phrase "understand the chronology" for CAA and NRC implementation in India

Finance Minister Nirmala Sitharaman on Wednesday said that in the past two years, depositors of co-operative and small banks have been put to hardships, the amendment is being brought to protect the interest of depositors.

BJP MP from Karnataka accused ministers in Kerala govt of nepotism and alleged police brutality on protesters, including women, in Kannur.

Agriculture Minister Narendra Singh Tomar will also move two bills — The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020

DMK's Tiruchi Siva, Samajwadi Party's Ravi Prakash Verma and TMC's Derek O'Brien were among the members from the Opposition Benches who said that the response to COVID-19 was hampered due to Donald Trump's visit to India.

O'Brien pointed out two contrasting images from the pandemic - one of the only woman Chief Minister marking social distancing circles in a bazaar and the second of a garden and a peacock.

Citing a news report, Congress MP KC Venugopal said that a tech company with links to Chinese government is tracking over 10,000 Indians in its global database of foreign targets.

Congress MP Digvijaya Singh raised concerns over increasing prices of oxygen during the COVID-19 pandemic and shortage of oxygen.

Leader of Opposition Ghulam Nabi Azad said Jammu and Kashmir has seen no tourism, employment opportunities and economic activities since the Abrogation of Article 370 in August 2019.

On the third day of the Parliament's Monsoon Session, the Rajya Sabha will debate the The Salaries and Allowances of Ministers (Amendment) Bill, 2020. The Bill, which was passed by the Lok Sabha on Tuesday, lists a 30 percent cut in the salaries of members of Parliament for this year in view of the coronavirus pandemic.

Health minister Harsh Vardhan will also introduce The Institute of Teaching and Research in Ayurveda Bill, 2020 and The Homoeopathy Central Council (Amendment) Bill, 2020. The Indian Medicine Central Council (Amendment) Bill, 2020 will also be taken up for consideration and passing.

Finance minister Nirmala Sitharaman will introduce The Banking Regulation (Amendment) Bill, 2020,which would bring cooperative banks under RBI's ambit, in the Lok Sabha. The Farmers' Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 will also be introduced for consideration and passing.

Defence minister Rajnath Singh said in the Lok Sabha that India is "very serious about issues of sovereignty" and the country is prepared for "all contingencies" to ensure that it is maintained, in what was seen as a strong warning to China amid repeated transgressions at the Line of Actual Control.

The Essential Commodities (Amendment) Bill, 2020 – was also passed in the Lower House on Tuesday. While the Essential Commodities (Amendment) Bill 2020 seeks to deregulate food items, including cereals, pulses and onion, a move aimed at transforming the farm sector and raising farmers’ income, the Congress described it as a direct and deliberate assault by the Centre on the farmers’ interests.

Updated Date:

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