Union Minister of State for Finance Jayant Sinha has said that the Bankruptcy law will be introduced in Parliament this Winter Session, while the passage of the GST Bill will remain on the top of agenda. Addressing a function in Mumbai Tuesday, Sinha said that the government is already in talks with all the parties to ensure that Parliament functions smoothly and that important legislations such as the GST and Bankruptcy laws gets passed.Describing the 6,100-crore rupee Bank of Baroda scam as one of the events, Sinha said compliance in all of government banks is excellent and it is also being tightened further. He said State Bank of India would be providing a very high quality set of benchmarks for all banks. Besides, he added that RBI and the financial intelligence units have stepped up its vigilance.The minister also informed that the Markets regulator Securities and Exchange Board of India (SEBI) would soon issue norms allowing e-commerce platforms to sell mutual fund products, among other measures, to boost the MF industry.Sinha said, Sebi is also planning to implement know-your-client procedure online, to simplify the process for mutual fund investors and attract wider number of customers.
News On AIR | October 28, 2015 8:32 AM
Bankruptcy law will be introduced in Parliament this Winter Session: Jayant Sinha