Govt likely to introduce 2 key financial sector bills in winter session
The government may introduce two key financial sector bills, including the proposed law for facilitating privatisation of public sector banks as announced by the finance minister in the Budget.
The government is also likely to table amendments to the Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013, to enable separation of the National Pension System Trust (NPS) from the PFRDA for ensuring universal pension coverage.
The government is likely to table amendments in the Banking Regulation Act, 1949, during the forthcoming Winter Session of Parliament, sources said.
Apart from this, amendments would be needed in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, for privatisation of banks, sources said.
These Acts led to the nationalisation of banks in two phases