Upcoming Legislative Changes in India

December 3, 2024

Union Finance Minister Nirmala Sitharaman will introduce the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha, targets key banking laws. It includes amendments to the Reserve Bank of India Act and the Banking Regulation Act. The discussion and potential passing of this bill will occur on the same day.

Banking Laws (Amendment) Bill, 2024

The bill aims to modernise banking regulations, which seeks to enhance the operational efficiency of banks. The amendments are crucial for addressing contemporary banking challenges. The legislation is expected to facilitate better governance in the banking sector.

Railways Act Amendment

Union Railways Minister Ashwini Vaishnaw will present amendments to the Railways Act, 1989, which aims to improve railway operations and safety. It is designed to address current challenges in the railway sector. The bill will also focus on enhancing passenger services.

Coastal Shipping Bill, 2024

Union Minister Sarbananda Sonowal will introduce the Coastal Shipping Bill, 2024. This bill aims to regulate coastal shipping more effectively. It encourages domestic participation in shipping activities. The legislation also aims to ensure national security and meet commercial needs.

Several Union Ministers will make important statements. S. Jaishankar will discuss India-China relations. Jayant Chaudhary will address a skills development project. Pankaj Chaudhary will clarify matters related to counterfeit currency.

Parliamentary Sessions

The winter session of Parliament commenced on November 25. It will conclude on December 20. Last week, both houses experienced disruptions. Opposition demands regarding the Adani issue affected proceedings. Other Union Ministers will also present various papers in the Lok Sabha.

Important Facts for Exams:
Coastal Shipping Bill, 2024: This legislation aims to regulate coastal shipping in India. It promotes domestic involvement in shipping. National security and commercial needs are also key focuses of this bill.
Banking Laws (Amendment) Bill, 2024: The bill modernises banking regulations in India. It seeks to enhance banks’ operational efficiency. Amendments target contemporary challenges within the banking sector for improved governance.
Railways Act, 1989: This act governs railway operations in India. The amendment aims to improve safety and efficiency. Enhancing passenger services is focus of the proposed changes.

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