Parliament LIVE Updates: Meet to Chalk out Smooth Running of Session Begins; Oppn’s Anand Sharma & & Ghulam Nabi Azad in Participation

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    Parliament LIVE Updates: All-party Meet Underway to Discuss Passage of Key Bills during Session
    File photo of Congress leader Anand Sharma.

    A recent investigative report by the Indian Express had details of how a Shenzen-based innovation company with links to the Chinese federal government and the Chinese Communist Party is keeping tabs on over 10,000 Indian people and organisations in its international database of “foreign targets”. Authorities said the federal government was aware of data mining by Chinese business and its abuse by Chinese companies. “The decision to ban Chinese apps was taken because of this abuse. Indian firms flagged how common Indians unwittingly were adding to the data bank of Chinese business, which in turn was being shown Chinese Communist Celebration and agencies,” an official stated.

    As the coronavirus scenario in India continues to be worrying, the Rajya Sabha is set to conversation the pandemic and the actions taken by the Centre to curb the spread of the fatal infection. Vardhan had on Monday informed Parliament that the choice to impose nationwide lockdown avoided 14-29 lakh Covid-19 cases and 37,000-78,000 deaths in India. Reports on Tuesday state that the variety of infections in the country have crossed the 5 million mark with 91,136 brand-new cases.

    On The Other Hand, in Lok Sabha, Finance minister Nirmala Sitharaman will move the Banking Regulation (Amendment) Expense, 2020 for its passage. The Expense looks for to secure the interest of the depositors by bringing co-operative banks under the regulatory framework of Reserve Bank of India (RBI).

    With the modifications, RBI will be able undertake a scheme of amalgamation of a bank without putting it under moratorium. Earlier, if a bank was put under moratorium, it not just restricted withdrawals by depositors, but also interrupted a bank’s lending operations.

    The cooperative banks will likewise be permitted to raise cash through public issue and personal positioning, of equity or preference shares in addition to unsecured debentures, with the main’s bank’s nod. Presently, access to capital for cooperative banks is restricted.

    In March, financing minister Nirmala Sitharaman tabled in the Lok Sabha the modifications to the Banking Policy Act,1949 However, due to the break out of the covid-19, the Parliament could not approve the modifications. Afterwards, on June 26, a regulation was promulgated.

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