1. MAJOR BILLS TO BE TABLED IN THE WINTER SESSION
The Motor Vehicles (Amendment) Bill, 2016
- 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.