Lok Sabha (Photo Credits: ANI)
New Delhi, 16 September: The Central Government will introduce the Banking Regulation (Amendment) Bill, 2020 for passage in the Lok Sabha on Wednesday during the monsoon session. It will also introduce two bills on farmers. The Farmers Produce Trade and Commerce (Promotion and Simplification) Bill, 2020 and the Farmers (Empowerment and Protection) Agreement on Price Assurance and Agricultural Services Bill 2020 which are the other bills to be introduced after 3 pm.
Finance Minister Nirmala Sitharaman will propose to consider and pass the Banking Regulation Act Bill, 2020. This is an amendment to the Banking Regulation Act, 1949. Sitharaman will take forward the bill with new amendments. On the first day of the session, Sitharaman withdrew the bill saying, “It is being withdrawn to add some new things to give the Reserve Bank of India a chance to restructure the troubled co-operative banks, which is a must.” is.”
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The bill was passed on 3 March this year during the budget session and an ordinance was subsequently passed. However, Agriculture Minister Narendra Singh Tomar would propose the Farmers Produce Trade and Commerce (Promotion and Simplification) Bill, 2020 to build an ecosystem where farmers and traders enjoy the freedom of selection related to sales and purchases.
At the same time, the Farmers (Empowerment and Protection) Agreement on Price Assurance and Agricultural Services Bill, 2020 Agri Trade Firms for the sale of agricultural services and agricultural products to farmers on mutually agreed beneficial price framework in a fair and transparent manner with respect to agricultural agreements. , Processors, wholesalers, exporters or retailers with a large number of patrons, empower farmers.