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Parliament monsoon session: Government lists DICGC, PFRDA amendment bills

Updated : July 14, 2021 14:44:57 IST

The government has listed Deposit Insurance and Credit Guarantee Corporation (DICGC) and Pension Fund Regulatory and Development Authority (PFRDA) amendment bills for the Monsoon Session of Parliament that begins on July 19.

There were expectations that the banking and the insurance amendment bills with respect to the privatisation exercise would be part of the list for the monsoon session. However, the confirmed list that includes the DICGC and PFRDA bills could be a preliminary one.

As part of the process, both the amendment bills are yet to get the cabinet nod. The Central government would like to make the DICGC bill time-bound to access the deposits of banks on suspension of business via DICGC. The time limit could be around 90 days.

For the PFRDA bills, the FY20 union budget had a proposal to separate the NPS trust which is close to Rs 6 lakh crore worth of assets under management (AUM). The second amendment proposed is to make pension coverage universal.

Meanwhile, the cryptocurrency bill which was expected to be tabled this session has been dropped. However, there is still hope that insurance and banking amendment bills could come up by the middle of the session.

The Monsoon Session of Parliament will conclude on August 13. Both Houses will meet daily from 11 am to 6 pm with an hour of lunch break. After nearly one year, a Parliament session will have an almost normal schedule with all COVID-19 protocols in place.

Since the pandemic began, three sessions of Parliament were curtailed while the winter session last year had to be cancelled.

Watch the accompanying video of CNBC-TV18’s Sapna Das for more details.
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