(FE)
Even as economic slowdown and rising unemployment rates are likely to be flash points between the Opposition and treasury benches in the Winter session of Parliament beginning Monday, the Centre will seek to convert the two Ordinances on reduction of corporate tax rates and ban on e-cigarettes into law, besides seeking to amend the Insolvency and Bankruptcy Code and Banking Regulation Act to achieve certain stated objectives.
The Insolvency and Bankruptcy Code (IBC) Amendments Bill will seek to raise the number of home-buyers who can invoke insolvency proceedings against realty developer and also introduce individual insolvency and cross-border insolvency regimes. The government will seek to amend the Banking Regulation Act (BRA) and the Co-operative Societies Act to improve the regulatory regime for co-operative banks and prevent the PMC Bank-type crises from recurring. It may also introduce a modified version of the Financial Resolution and Deposit Insurance (FRDI) Bill to raise the insurance cover for bank deposits from the current Rs 1 lakh.
