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  • The Insolvency and Bankruptcy Code (Amendment) Bill, 2020 was passed by voice vote in Rajya Sabha. The bill seeks to remove bottlenecks and streamline the corporate insolvency resolution process. It aims to provide protection to new owners of a loan defaulter company against prosecution for misdeeds of previous owners
  • Parliament passed amendments to the insolvency law that will help ring-fence successful bidders of insolvent companies from risk of criminal proceedings for offences committed by previous promoters. The Insolvency and Bankruptcy Code (Amendment) Bill, 2020 was passed by voice vote in Rajya Sabha. It was approved by Lok Sabha on March 6.
  • The IBC, which came into force in 2016, has already been amended thrice.

Parliament approves Mineral Laws (Amendment) Bill, 2020

  • Parliament approved the Mineral Laws (Amendment) Bill, 2020 on March 12, 2020. Parliament gave its approval to the bill when Rajya Sabha adopted the same. The bill was passed by the majority members and twelve members opposed it during the division of votes in Rajya Sabha.
  • The Minerals Laws (Amendment) Bill, 2020 will ensure a new era for promoting the Indian coal and mining sector, especially the ease of doing business. Experts believe that coal production will increase and dependence on imports will be reduced when this action will come into the force.

Nitin Gadkari advocates pink buses for women in cities above population of 1 crore

  • Union Road Transport Minister Nitin Gadkari on Thursday advocated introduction of pink buses for women in cities with a population of over 1 crore.
  • The minister said for the security of women in public transport, in these buses the driver, conductor and passengers are all women.
  • Some cities have already introduced this service and it is running successfully, he added.

CONFERENCE

GST Council to rationalise tax on mobile phones, shoes, textile

  • The GST Council is likely to rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing in its meeting on March 14.
  • The Council, chaired by Finance Minister Nirmala Sitharaman, would also discuss operational glitches on the GST Network portal and seek a resolution plan from Infosys, which has won the contract for managing back-end for GSTN in 2015.

SCHEMES

Vigyan Jyoti programme

This is a holistic program to encourage and inspire female students to pursue higher education and thus, become self-reliant and independent in life.

IMPORTANT DAYS

19 February -Birthday of Chatrapathi shivaji

  • March 10-The Central Industrial Security Force (CISF) Raising Day
  • March 12-World Kidney awareness day

NEWS HINTS

  • Tamil Nadu tops in Poshan Abhiyans participants list
  • All-women post office inaugurated in Karnataka’s Kalaburagi

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