Banning of Unregulated Deposit Schemes Bill introduced in Lok Sabha

The Banning of Unregulated Deposit Schemes Bill, 2018, that provides for a comprehensive mechanism to protect the interest of depositors was introduced in the Lok Sabha on Tuesday. However, the Bill, introduced by Finance Minister Piyush Goyal, could not be taken up for discussion.

Soon after the Bill was introduced, Biju Janata Dal's Bhratruhari Mahtab urged the Chair to delay the discussion to Wednesday. He also urged the Chair to pass the Jallianwala Bagh National Memorial (Amendment) Bill, 2018. "There is unanimity on these two Bills," he said.

Parliamentary Affairs Minister Narendra Singh Tomar urged the members to pass the Bill to facilitate its passage by the Rajya Sabha on Wednesday. Lok Sabha Speaker Sumitra Mahajan, after considering the view of the House said if all agree, she would suspend the Question Hour to take up the Bill. She then, adjourned the House.

The bill was initially introduced in Parliament on July 18, 2018, and was referred to the Standing Committee on Finance. The last day (February 13) of the Winter Session, which would also be the last day of the 16th Lok Sabha, is all set to witness suspension of Question Hour.