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Parliament monsoon session: GINBA and DICGC Act amendments likely today

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Parliament monsoon session: GINBA and DICGC Act amendments likely today

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The monsoon session of the Parliament is in progress and CNBC-TV18 has learnt that the government could take up the amendments to the General Insurance Business Nationalisation Act (GINBA) and the Deposit Insurance and Credit Guarantee Corporation (DICGC) act today (July 28).

The monsoon session of the Parliament is in progress and CNBC-TV18 has learnt that the government could take up the amendments to the General Insurance Business Nationalisation Act (GINBA) and the Deposit Insurance and Credit Guarantee Corporation (DICGC) act today (July 28).
The GIBNA Act amendments aim to enable ceding of ownership and control in non-life insurance companies. This is in a nutshell to enable privation.
Finance Minister Nirmala Sitharaman has already announced in the budget that one PSU non-life insurer will be privatised. However, as of now there is only one company that they will be exiting from.
The DICGC Act amendment is trying to make the access to funds time-bound whenever the bank is in distress.
The Lok Sabha proceedings were again adjourned on Tuesday amid continuous protests by Opposition members over the Pegasus snooping row and farm laws.
CNBC-TV18’s Sapna Das has more details.
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