Factoring Regulation Bill to move in LS on 1st day of Monsoon Session


The Factoring Regulation (Amendment) Bill, 2020, is among the two draft legislations to be moved in the Lok Sabha on the first day of the Monsoon Session on Monday.

Finance Minister Nirmala Sitharaman is likely to move the Bill to amend the Factoring Regulation Act, 2011, in the lower House for consideration and passage.

Besides, Pashupati Kumar Paras, Minister of Food Processing Industries, is to move the National Institute of Food Technology, Entrepreneurship and Management Bill, 2021 in the House to declare certain institutes of Food, Technology, Entrepreneurship and Management to be the institute of national importance.

The bill is to provide for instruction and research in food technology, entrepreneurship and management and for the advancement of learning and dissemination of knowledge in such branches.

Soon after the House assembles at 11 a.m., four new members — Maddila Gurumoorthy, Mangal Suresh Angadi, M.P. Abdussamad Samadani and Vijayakumar– will take oath and take their seats.

Later, Prime Minister Narendra Modi will introduce the Ministers and the Minister’ of state who were recently inducted into the Council of Ministers.

Speaker Om Birla will later read the obituary references to the passing away of 40 former members of the House.