Ad
FreeCurrencyRates.com

इंडियन आवाज़     20 Oct 2018 05:11:59      انڈین آواز
Ad

Govt introduces Fugitive Economic offenders Bill in Lok Sabha

lok-sabha

AMN

Government today introduce the Chit Funds (Amendment) Bill and the Fugitive Economic Offenders Bill are scheduled to be introduced in the Lok Sabha.

Erlier Cabinet had given its approval to introduce the Chit Funds (Amendment) Bill in Parliament.

The amendment has been brought to facilitate orderly growth of the Chit Funds sector and remove bottlenecks being faced by the Chit Funds industry and enabling greater financial access of people to other financial products.

The Fugitive Economic Offenders Bill which was appoved by the Cabinet early this month aims to stop economic offenders who flee overseas to avoid getting caught in financial frauds or offences.

The cases where the total value involved in such offences is 100 crore rupees or more will come under the purview of the Bill.

It is expected to re-establish the rule of law with respect to the fugitive economic offenders as they will be forced to return to India to face trial for scheduled offences.

It will also help the banks and other financial institutions to achieve higher recovery from financial defaults committed by such fugitive economic offenders, improving the financial health of such institutions.

In Rajya Sabha, The Motor Vehicles (Amendment) Bill, The State Banks (Repeal and Amendment) Bill, The Prevention of Corruption (Amendment) Bill will come up today for discussion and passage.

Leave a Reply

Your email address will not be published. Required fields are marked *

Ad
Ad
Ad

MARQUEE

3000-year-old relics found in Saudi Arabia

Jarash, near Abha in saudi Arabia is among the most important archaeological sites in Asir province Excavat ...

Instagram co-founders quit

WEB DESK The 2 co-founders of Instagram have resigned, reportedly over differences in management policy with ...

Ad

@Powered By: Logicsart