As it happened: Rajya Sabha passes loan recovery Bill

Navaneethakrishnan speaks about SBI transferring student loans to ARCs owned by Reliance.

August 09, 2016 11:19 am | Updated 08:05 pm IST

NEW DELHI, 17/08/2007: Index: A View of the Parliament Building in New Delhi. Photo: V V Krishnan.

NEW DELHI, 17/08/2007: Index: A View of the Parliament Building in New Delhi. Photo: V V Krishnan.

A day after passing GST amendments, Lok Sabha will discuss two crucial bills today — The Motor Vehicles (Amendment) Bill, 2016, and The Transgender Persons (Protection of Rights) Bill, 2016.

But first, it is time for Question Hour and Zero Hour.

As it happened:

7.25 p.m.: The resolution is adopted. Rajya Sabha is adjourned for the day.

7.20 p.m.: "We have to maintain the only 2 streams of revenue for the Railways, 2/3 frei ght and 1/3 passenger," says Mr. Prabhu. "The long term interest of the Railways would be a merger with the general Budget."

Central Agricultural University (Amendment) Bill 2016 is passed in the Lok Sabha. Lok Sabha is adjourned for the day.

7.15 p.m.: Suresh Prabhu replies to the questions asked.

7.10 p.m.: Jairam Ramesh says that the era of having a separate Railway Budget is over, and that it should become a part of the general Budget. "Will this year's Budget be the Railway Minister's last Budget or are we going to continue this colonial practice?"

7.05 p.m.: Ritabrata Banerjee says that passenger fares cannot be fixed on cost-benefit studies. "We feel there is no need for a reverse flow of fund from the Railways to the Central Exchequer."

7 p.m.: Why should we take away any money from the Railways to give to the Centre?, asks Derek O'Brien. "I don't have a problem with a bullet train, but if you use your money like this, you'll have a misfired bullet. Today there is a social responsibility as well as a commercial viability. Suresh Prabhu ji is giving Arun Jaitley ji Rs. 12,000 crore every yea. We must keep all the money with the Railways."

6.50 p.m.: Tamil Nadu requests for more coaches in the Nilgiri Mountain Railway along with refurbishing existing coaches. K.R. Arjunan of the AIADMK speaks in Tamil during the debate and quotes Robert Frost.

6.46 p.m.: Suresh Prabhu moves a resolution on the Railway Convention Committee 2016.

6.45 p.m.: The Enforcement of Security Interest, Debt Recovery Laws and Miscellaneous Provisions Bill, 2016 is passed in the Rajya Sabha.

6.36 p.m.: Mr. Jaitley answers a question on Tamil Nadu floods. "Banks also have a humane attitude. There are higher NPAs when students are concerned. I think in some cases, some more time is granted."

6.34 p.m.: NPAs in 2002 had touched 13 per cent, much worse than the current situation, says Mr. Jaitley. "From 13 per cent, after the securitisation Act, became two to three per cent."

6.32 p.m.: "20 people are sitting on bank monies, so banks are not able to support 20,000 others."

6.30 p.m.: "With the kind of litigation that the SBi and other bankers had to contest (in the Vijay Mallya case), a lot of allowances were made for the defaulter."

6.29 p.m.: "Out of five DRTs, now four have chairpersons. Now what we have proposed is that these are all banking institutions, so we have lok adalats for small loans. DRTs are intended to be electronic courts."

6.27 p.m.: "Originally if a bank had to recover loans, it would go to civil court. In 1993 the DRTs were created. The objective was that the DRT would expeditiously decide these cases."

6.25 p.m.: "The Government is committed to preserve and maintain and strengthen the health of public sector banks."

6.20 p.m.: "When the global slowdown happened we had specific problems in relation to select sectors of the economy. Microfinance is the most succesful way of financing small business and household industries."

6.15 p.m.: Finance Minister Arun Jaitley rises to respond to questions.

6.13 p.m.: In the Rajya Sabha, Narendra Budania of the Congress says, "Unless we have political will, no matter how many bills we introduce, wilful defaulters would not be punished."

6.12 p.m.: The Employee's Compensation Bill, 2016 is passed in the Lok Sabha.

6.10 p.m.: Shashi Tharoor adds an amendment to make workers aware of their rights both in writing and orally. This amendment is rejected. N.K. Premachandran moves to include another amendment, which is also negatived.

6 p.m.: Meanwhile, the Lok Sabha is discussing the Labour Reform Bill. Labour Minister Bandaru Dattatreya answers questions on the Bill. The Motion for Consideration of the Bill is adopted.

5.30 p.m.: Anil Desai rises to support the amendment to the SARFAESI Act. "The legislation is certainly a step in the right direction."

5.25 p.m.: Praful Patel of the NCP says the problems of our banking sector have been many. "One is that the small borrower, who can be classified as genuine borrowers have gone to the banking sector out of necessity. There is another class of borrowers who have from the beginning, treated the entire banking sector as their fiefdom."

5.15 p.m.: "This Amendment is wrongly considered as a bailout to banks, " says A.U. Singh Deo of the BJD. "The idea of ARCs taking over collaterals of the defaulters helps in wiping records from the books. Banks, after this exercise, don't have liabilities left. When the ARCs take over the lands, where would this land likely go? There is also a loss of revenue from stamp duty."

5.10 p.m.: Ritabrata Banerjee of the CPI(M) reads out major defaulters of banks. "Bad loans in the banks are increasing day by day. Wilful defaulters should be treated as criminal offenders."

4.45 p.m.: Navaneethakrishnan speaks about SBI transferring student loans to ARCs owned by Reliance. "Bank is not collecting the entire amount from ARCs. ARCs are making partial payments and forcing the defaulter to make the payment by adopting coercive procedures. The SARFAESI Act muct be made applicable only depending on the quantum of the loan."

4.25 p.m.: "Any law requires time to show its effect. This law will make India a strong economy. Recently we passed the Bankruptcy and Insolvency Law. The prime focus of the govt is to make laws and to bring in transparency."

4.20 p.m.: Bhupender Yadav of the BJP says that bad loans have affected the economy. "The present Bill requires the creation and maintenance of a central database. We also need a mechanism to regulate ARCs."

4.15 p.m.: In the new amendment everything will be registered under one registrar. "Exemption of stamp duty on loans is very helpful."

4.05 p.m.: "Banks are in a bad shape and have a dire need of capital infusion from the government," says Dr. T. Subbarami Reddy of the Congress speaking on amendments to the SARFAESI Act.

3.55 p.m.: I want to assure there is no impasse and there is no veto. If the SC asks us to convey certain things such as accountability…etc in the MoP, then I will have to consider all that. Mr. Prasad says.

3.50 p.m.: I had assured the House that a list of Dalit lawyers will be maintained and that they will be pushed up in the judiciary, Mr. Ravi Shankar Prasad says on the issue of reservation

3.45 p.m.: Law Minister Ravi Shankar Prasad responds to the statements. "This govt today is led by people who have fought for the case of independence of judiciary during Emergency. Our judiciary's record is exemplary. Supreme Court has led the benchmark in cases of gross impropriety by the govt or any party."

"The collegium is not in the constitution or created by an act of Parliament," he adds.

3.35 p.m.: Tiruchi Siva of the DMK says that the pendency of cases in the court should be dealt with. "The people are affected. What did the govt do after that? Lakhs of cases are pending all over the country. What are you going to do when the Supreme Court strikes down our amendment? People from South India are coming a very long way and a bench needs to be in Tamil Nadu."

3.30 p.m.: K.T.S. Tulsi says that this impasse is not the creation of the government. It is created by the judiciary. "The point was to have wider consultation. The Supreme Court does not want anyone in the appointment process. There is no such system anywhere in the world. The Constitution has been rewritten by the Supreme Court."

3.25 p.m.: D.P. Tripathi of the NCP says that the system of appointment of judges is unique to India. The limits of the judiciary are always defined. "Where does the Parliament stand in comparison to the judiciary? If we do not reform our judicial system we are not going to develop as a strong power in the 21st century."

"How old is our IPC and CrPC? Even the execution and delivery of justice is not possible without changing our systems. Why can't, like other countries, our Parliament debate on the collegium appointees. I can tell you with full authority that if this absolutism continues, then no Dalit or tribal will be included."

3.20 p.m.: Corruption and nepotism is rampant, says C.P. Narayanan of the CPI(M). "We don't have any right to touch the judiciary in India. I think this anachronism has to be overcome. The backward sections have been kept away from the judiciary, because they have an insulated system. They brought in the collegium system 25 years back. This situation has to be put an end to. We have to see that a few people cannot keep not just the Parliament and the people at a standstill."

3.10 p.m.: Ripun Bora asks if lawmakers are accountable, then why not the judiciary? Thousands of cases are delayed. I request the Minister to make the judiciary accountable. What is the difficulty to bring the judiciary under the purview of the RTI?

India is a big country. We have so many judge seats vacant. Has the coutnry not have the right to know the Memorandum of Procedure? My question is whether the govt will assert to be taken into confidence.

3.06 p.m.: Anubhav Mohanty says the collegium system is quite strange. "Will the govt open dialogues with the Supreme Court on this? There is only one woman judge out of 30 judges in the Supreme Court. Our courts need more women judges too."

3.02 p.m.: Judges are supposed to have allegiance to the Constitution, says Shantaram Naik.

3 p.m.: Navaneethakrishnan of AIADMK says he hopes that the Parliament will protect the state government. "There is a demand that the candidate must be from the oppressed classes. It is a good demand."

2.55 p.m.: Sukhendu Sekhar Roy says that for over a period of time it has been held that consultation is concurrence. A new meaning has been imported into our Constitution.

2.53 p.m.: How many Dalits, tribals and OBCs are there in the Supreme Court?, asks Mr. Raja.

2.52 p.m.: America's senate decides its judges, but not our Parliament. We need to fix aacountability for our judges, says Mr. Shukla. India Judiciary continues to have caste and class biases says D. Raja of the CPI.

2.50 p.m.: The wheel of justice has come to a standstill in India, because of the pending cases, says Rajeev Shukla, INC, Maharashtra

2.45 p.m.: No Scheduled Caste names in collegium and appointment. Does Ministry send back the list if there isn't a single SC name? he questioned.

2.40 p.m.: Only 52 appointments made during stalemate period. But how many vacancies arose during the same period?, Satish Chandra Mishra, BSP, Uttar Pradesh, asks.

2.35 p.m.: Sanctioned strength in Courts is 1059. But vacancies are above 400. Why is Govt insisting on keeping veto power, resulting in impasse? Vivek Tankha questioned.

2.30 p.m.: Instead of reforming the system, we are facing a stalemate. We had a system of fast-track courts, which has disappeared. Law Minister’s commitments have not happened. All these had led to accumulation of cases, says Vivek Tankha, INC, Madhya Pradesh, on the of the impasse in the appointment of judges in the High Courts & Supreme Court.

2.15 p.m.: Anything on the memorundum of procedure cannot be discussed, says Law Minister Ravi Shankar Prasad.

2.14 p.m.: Calling attention motion on the impact of impasse over delay in appointment of judges in high courts.

2.12 p.m.: Deputy chairman disallows a discussion.

2.10 p.m.: Congress MP Mistry wants to raise an issue on a motion related to manual scavenging.

2.01 p.m.: Rajya Sabha proceedings resume

Lok Sabha adjourned till 2.20 p.m.

Rajya Sabha adjourned till 2 p.m.

12.41 p.m.: In Rajya Sabha, Finance Minister Arun Jaitley answers Members' queries on bank debt recovery.

12.31 p.m.: After mild protests from the opposition benches, Speaker asks Gadkri to introduce the bill.

12.24 p.m.: Copies of the Motorvehicles amendment bill has already been circulated in the morning, says the Speaker.

12.23 p.m.: Though we want to support you eagerness to develop roads and prevent road accidents, the rule should be followed, says Kharge.

12.22 p.m.: TMC MP Saugata Ray wants the bill to be circulated to the members before it is being introduced.

12.21 p.m.: Speaker Sumitra Mahajan asks Mr. Gadkri to introduce the Bill. Since "ayye" was louder than "nayy" Mr . Gadkari can now introduce the Bill.

12.20 p.m.: Speaker takes voice vote on whether the bill should be introduced.

12.19 p.m.: This is a year-old-bill. Due to the delay, we couldn't prevent road accidents: Gadkari

12.18 p.m.: If its an important bill then it should be sent to standing committee first, says Congress leader Kharge.

12.17 p.m.: People are dying in road accidents every days. So the Bill should be introduced immediately, says Gadkari

12.16 p.m.: The speaker said she is just introducing the bill. The discussion can happen later.

12:15 p.m.: Opposition demands a "proper" discussion before letting it to be introduced in the House.

12.14 p.m.: In Lok Sabha MPs protest against introduction of motor vehicles amendment bill by Nitin Gadkari.

12.01 p.m.: I n the name of cow vigilantism, lives of people need to be taken; Yechury

11.59 a.m.: Yechury raises the issue of attacks on Dalits.

11.58. a.m.: CPI (M) MP Sitaram Yechury asks whether this government will abide by the rule of law.

11.53 a.m.: If you want a good GST, subsume the cess, says Brien.

11.52 a.m.: Trinamool Congress MP Derek O Brien seeks clarification on the GST bill.

11.51 a.m.: Kashmir is a complex. Along with the government, the opposition too should jointly try to solve the issue

11.50 a.m.: I had gone for a small work at the Lok Sabha chamber. I agree with Mr. Azad. Will discuss the Kashmir issue tomorrow

11.47 a.m.: Home Minister Rajnath Singh arrives to respond to PDP MPs Mir Mohd. Fayaz's plea on Kashmir issue.

11.43 a.m.: Azad asks for the suspension of the zero hour tomorrow, on Wednesday, to discuss the Kashmir issue.

11.39 a.m.: Kashmir is a complex issue. Other than the Prime Minister and the Home Minister, other members are not aware too much: Azad

11.35 a.m.: Congress leader Ghulam Nabi Azad seeks a discussion on Kashmir.

The topic shifts to discussion on the Kashmir issue in the Rajya Sabha.

11.34 a.m.: The govt. is seriously discussing ways to provide compensation to both security forces and civilians who have been targeted by terror groups, says Rajnath

11. 30 a.m.: Union Home Minister Rajnath Singh responds to Ajmal's plea.

11.27 a.m.: Is there any policy by the government to help such victims, asks Ajmal.

11.25 a.m.: People who have lost their family members and properties in violence inflicted on them by terrorists have not received any basic compensation like food and shelter.

11.23 a.m.: Sirajuddin Ajmal, an AIUDF MP Assam, raises the issue of compensation to terror victims.

11:18 a.m.: Hansraj Gangaram Ahir, MoS (home), responds saying that the government is working closely with both Bangladesh and Myanmar and is sharing intelligence with the two neighbours to keep the terrorists at bay.

11:15 a.m.: C.K. Sangma says the northeast border is very porous and there is IS threat looming large in Bangladesh. Mr. Sangma asks the govt if joint anti-terror operations will be held with Bangladesh on the pattern of the country's joint military efforts with Myanmar.

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