FM Sitharaman to introduce Banking Laws Amendment Bill 2024 in Lok Sabha Tomorrow

Union Finance Minister Nirmala Sitharaman is set to introduce the Banking Laws (Amendment) Bill, 2024 in the Lok Sabha on Monday. According to the parliamentary schedule, the Bill seeks to amend several key legislations, including:

• The Reserve Bank of India Act, 1934
• The Banking Regulation Act, 1949
• The State Bank of India Act, 1955
• The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980

The Bill will be tabled for consideration and passage during the session. Click here to download Banking Laws Amendment Bill 2024 PDF.

Union Railways Minister Ashwini Vaishnaw is also expected to move an amendment to the Railways Act, 1989 for deliberation and passage. Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal will introduce the Coastal Shipping Bill, 2024, aimed at:

• Regulating coastal shipping.
• Promoting coasting trade and enhancing domestic participation.
• Equipping India with a coastal fleet for national security and commercial purposes.

Ministerial Statements in Lok Sabha

Several ministers will address significant issues during Monday’s session:

• External Affairs Minister S. Jaishankar: A statement on “Recent Developments in India’s Relations with China.”
• Minister of State for Skill Development Jayant Chaudhary: An update on the implementation of recommendations from the 56th Standing Committee Report on the SANKALP Project.
• Minister of State for Finance Pankaj Chaudhary: A clarification on the reply to an earlier question regarding the “Increase in Counterfeit Currency.”

Additionally, papers will be tabled by Union Ministers, including Gajendra Singh Shekhawat, Sukanta Majumdar, and Harsh Malhotra.

Legislative Agenda in Rajya Sabha

In the Rajya Sabha, two critical Bills are likely to be moved for consideration and passage:

• The Oilfields (Regulation and Development) Amendment Bill, 2024 by Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri.
• The Bharatiya Vayuyan Vidheyak, 2024 by Civil Aviation Minister Kinjarapu Rammohan Naidu, which addresses the regulation of aircraft design, manufacture, maintenance, and operations.

Union Ministers Shripad Yesso Naik, Shobha Karandlaje, and others will also table papers in the Rajya Sabha.

Parliamentary Context

The winter session of Parliament, which began on November 25 and concludes on December 20, has faced disruptions in the past week due to opposition demands to discuss the Adani indictment. Monday’s session is expected to focus on critical legislative and policy matters across various sectors.