Right to form cooperative societies and Exim Bank Bills passed by Lok Sabha

• The Lok Sabha on Wednesday passed two Bills, while it took up for discussion the Constitution (111th) Bill, 2009 enshrining the right to form cooperative societies as a fundamental right along with the right to set up a specialised agency on the lines of the Election Commission to conduct election of the cooperative societies.
• Agriculture Minister Sharad Pawar, who moved the Bill, said the objective was to ensure that the cooperative bodies functioned in a democratic, professional, autonomous and economically sound manner. The Bill seeks to widen the scope of Article 19 to include cooperative societies, besides touching upon the Directive Principles of State Policy as well for the purpose.
  

The debate remained inconclusive and will be concluded on Thursday when it would be taken up for passage as well.

Voice vote

Earlier, the House also approved, by a voice vote, the Export-Import Bank of India (Amendment) Bill, 2011 increasing its authorised capital from Rs. 2,000 crore to Rs. 10,000 crore and to induct two more whole-time directors.

The Bill, moved by Minister of State for Finance Namo Narain Meena, provides for increasing the authorised capital through a notification in the future.

Mr. Meena also successfully piloted the Regulation of Factor (Assignment of Receivable) Bill, 2011 aiming at mitigating the problems of delayed payments to industrial commercial undertakings. He added that it would help micro, small and medium enterprises the most.