The Central government is all set to withdraw Banking Regulation (Amendment) Bill, 2020 for its fresh introduction on Day 1 of the Monsoon Session which will begin from Monday.
Finance Minister Nirmala Sitharaman will move a proposal in the Lok Sabha to withdraw the Bill.
The Bill was introduced in the lower House on March 3 this year during the Budget Session to amend the Banking Regulation Act, 1949. However, the reasons for withdrawal of the Bill could not not be known.
The Bill seeks immediate legislation by promulgation of the salary, allowances and pension of Members of Parliament (Amendment) Ordinance, 2020. It will be among the 23 new Bills, including 11 that will replace ordinances, which has been listed by the government for the session.