CURRENT AFFAIRS 2012 FEBRUARY - II

Rajya Sabha approved the Export- Import Bank of India Amendment Bill, 2011

Rajya Sabha approved the Export-Import Bank of India Amendment Bill, 2011, on 27 December 2011. It aims at promoting international trade by raising the capital funds of overseas trading from two thousand crore rupees to ten thousand crore rupees.

The Bill was passed by the Lok Sabha earlier.

Lok Sabha Passed the Lokpal and Lokayukta Bill, 2011

The Lok Sabha on 27 December 2011, approved the Lokpal and Lokayukta Bill, 2011 with the government making it clear that setting up of Lokayuktas by the states would not be mandatory. However, the Constitutional Amendment Bill, designed to confer constitutional status on the anti-corruption watchdog, fell through, as the government failed to get two-thirds support for it. 

The Lokpal and Lokayukta Bill, 2011 was approved after the government moved a few other key amendments, including keeping the Defence Forces and Coast Guard personnel out of the purview of the anti-graft ombudsman and increasing the exemption time of former MPs from five to seven years. A number of amendments moved by the Opposition, including Corporates, Media and NGOs receiving donations, were defeated. The government rejected the opposition's demand to bring CBI under Lokpal.

Rajya Sabha approved the Regulation of Factor (Assignments Receivable) Bill, 2011

Rajya Sabha approved the Regulation of Factor (Assignments Receivable Bill, 2011) on 27 December 2011 to help micro, small and medium enterprises.The bill aims at regulating assignment of receivables by making provision for registration of the rights and obligations of parties to contract. It applies to all types of industry whether it is small, medium or big. It will help mitigate the payment problem of the MSME units. Factors will be regulated by the Reserve Bank of India.

The Lok Sabha had already passed the bill.