It seeks to amend the Motor Vehicles Act, 1988 by incorporating clauses to introduce third-party insurance, enhance road safety, and develop a framework for regulating taxi aggregators like Ola, Uber, and Meru.
The Bill proposes to set a ceiling for third party insurance in case of an accident.
The Bill caps liability at Rs.10 lakh in the case of fatalities, and Rs.5 lakh for grievous injuries.
A solatium fund is to be instituted to compensate victims of hit-and-run accidents.
The Financial Resolution and Deposit Insurance (FRDI) Bill
The FRDI Bill is aimed at insuring the money of a bank’s depositors in case the bank would have to be liquidated.
The FRDI Bill proposes the setting up of a Resolution Corporation, “whose direction and management vests with the Board, subject to the terms and conditions of the Act”.
A ‘Corporation Insurance Fund’ is the financial vehicle which will be used to garner insurance inflows.
The bail-in clause has emerged as the major bone of contention with depositors.
This gives banks the authority to issue securities in lieu of the money deposited.
The Representation of the People (Amendment) Bill, 2017
This Bill seeks to assimilate the Indian Diaspora into the democratic process by allowing them to cast their votes through postal or e-ballots.
If the Representation of the People (Amendment) Bill, 2017 is passed by Parliament, it has the potential to make a tangible difference in electoral politics.
This is because parties would also have to accommodate the interests of NRIs, which may be far removed from those of their compatriots.
