The Banking Regulation (Amendment) Bill was introduced in Lok Sabha. The Bill replaces the ordinance currently in force. The Ordinance amends the Banking Regulation Act, 1949 to insert provisions for recovery of outstanding loans. Under these provisions, the central government may authorise the Reserve Bank of India to direct banks to initiate recovery proceedings against loan defaulters.

Lok Sabha saw disruptions and could not take up scheduled business. The Speaker of the House, under Rule 374 suspended few opposition members for five consecutive days. Under this rule the Speaker may name and suspend members for obstructing business in the house. 

Rajya Sabha saw the passage of two bills. These were the Footwear Design and Development Institute Bill and the Admiralty (Jurisdiction and Settlement of Maritime Claims).

The Footwear Design and Development Institute Bill establishes the Institute as an institution of national importance for the development of quality in education, research and training in footwear and leather products design. Members participating in the debate raised questions about the funding model of the institute and the measure that will be taken to prevent high fees. Some members also suggested that there should be a provision to convert informal knowledge of leather workers to formal certification.

The Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill consolidates the existing laws on civil matters of admiralty jurisdiction of courts, admiralty proceedings on maritime claims, and arrest of ships. During the debate, some members expressed their concern about the burden on courts due to maritime claims and the process of transferring existing proceedings to the High Courts that have been extended admiralty jurisdiction in this Bill.

Subscribe for Parliament Diary