Insurance, IBC Bills may get passed in winter session

THE WINTER SESSION of Parliament, starting December 1, may see passage of a few economic Bills, most notably those pertaining to insurance reforms and fast-tracking of the insolvency resolution process, according to official sources.

- PRASANTA SAHU

The Centre is likely to seek Parliament's approval for the Insurance (Amendment) Bill, which seeks to allow 100% foreign direct investment (FDI) in the sector.

It will also push for amendments to the Insolvency and Bankruptcy Code (IBC) to bring in creditor-led and group insolvency mechanisms, among several other key changes, the sources said. The government announced on Saturday that the winter session of the Lok Sabha and Rajya Sabha will run for 15 working days, from December 1 to 19 — a schedule that immediately drew Opposition criticism for being "unusually delayed and truncated."