Lawstreet Journal

Minor Offences under 19 Legislations proposed to be decriminalized by the Finance Ministry

Lawstreet Journal 11 Jun 2020 8:48pm

Image courtesy: Lawstreet Journal Executive Minor Offences under 19 Legislations proposed to be decriminalized by the Finance Ministry

In about 19 legislations, a host of minor offenses including those relating to cheque bounce and repayment of loans set to be decriminalized by the Finance Ministry in order to help businesses tide over the crisis caused due to the outbreak of this pandemic. The legislations include LIC Act 1956, PFRDA Act 1999, RBI Act 1934, SARFAESI Act (repayment of bank loans) 2002, Negotiable Instruments Act (cheque bounce) 1881, Banking Regulation Act, 1949 and Chit Funds Act 1982.

The Finance Ministry has invited comments of various stakeholders over these legislations by 23rd June 2020 and has further clarified that the decision of decriminalizing various minor offenses is undertaken to improve ease of doing business in the long run and in order to help unclog the court system and prisons. This decision would further be a significant step to take under the objective of the Government of India’s ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas.’ The feedback of various stakeholders will be very crucial since the department on the basis of their feedback would take a call as to whether a particular section should remain a criminal offense or that it should be suitably modified to decriminalize to improve the ease and comfort of doing business. 

Various other legislations were included in the list of documents for consultation for suitable amendments to decriminalize minor offenses such as the Insurance Act 1938, Payment and Settlements Systems Act 2007, NABARD Act 1981, State Financial Corporations Act 1951, Credit Information… Continue Reading...


Tagged: Nirmala Sitharaman  
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