Chit Fund Amendment Bill

Parliament Live: As the winter session of parliament enters the third day today, the cabinet is likely to take up a Bill to regularise unauthorised colonies in Delhi and introduce The Chit Funds (Amendment) Bill, 2019 for consideration. The Opposition is expected to raise issues like Delhi pollution and economic slowdown.

Lok Sabha Speaker Om Birla warned members from the ruling Bharatiya Janata Party (BJP) and opposition Trinamool Congress (TMC) by saying, "don't turn the Lok Sabha into the West Bengal Assembly" when they clashed during a debate on a bill to amend the Chit Funds Act.

The Centre on Monday moved the Chit Fund (Amendment) Bill, 2019 for passage in the Lok Sabha to facilitate orderly growth of the chit fund sector, but this was opposed by Trinamool Congress which suggested it be "scrapped" and questioned its need as there is already an existing law.

The government is all set to press for the passage of Chit Fund (Amendment) Bill, 2019 on day one of the winter session of Parliament beginning Monday to facilitate orderly growth of the chit fund sector and removal of bottlenecks being faced by the industry to enable greater financial access to people.

"The Union Cabinet has given its approval to introduce the... Banning of Unregulated Deposit Schemes Bill, 2018, and the Chit Funds (Amendment) Bill, 2018," said the Finance Ministry.

The West Bengal Assembly on Thursday passed amendments to incorporate suggestions made by the central government to a bill that seeks to protect depositors' interests from money collection schemes in the state.

Parliament Live: As the winter session of parliament enters the third day today, the cabinet is likely to take up a Bill to regularise unauthorised colonies in Delhi and introduce The Chit Funds (Amendment) Bill, 2019 for consideration. The Opposition is expected to raise issues like Delhi pollution and economic slowdown.

Lok Sabha Speaker Om Birla warned members from the ruling Bharatiya Janata Party (BJP) and opposition Trinamool Congress (TMC) by saying, "don't turn the Lok Sabha into the West Bengal Assembly" when they clashed during a debate on a bill to amend the Chit Funds Act.

The Centre on Monday moved the Chit Fund (Amendment) Bill, 2019 for passage in the Lok Sabha to facilitate orderly growth of the chit fund sector, but this was opposed by Trinamool Congress which suggested it be "scrapped" and questioned its need as there is already an existing law.

The government is all set to press for the passage of Chit Fund (Amendment) Bill, 2019 on day one of the winter session of Parliament beginning Monday to facilitate orderly growth of the chit fund sector and removal of bottlenecks being faced by the industry to enable greater financial access to people.

"The Union Cabinet has given its approval to introduce the... Banning of Unregulated Deposit Schemes Bill, 2018, and the Chit Funds (Amendment) Bill, 2018," said the Finance Ministry.

The West Bengal Assembly on Thursday passed amendments to incorporate suggestions made by the central government to a bill that seeks to protect depositors' interests from money collection schemes in the state.