Parliament Monsoon Session Day 11: What the ISI, MSME, Banking and SC Judges Bills aim to change| Explained
The Centre is also set to seek Parliament's approval for the Supreme Court (Number of Judges) Amendment Bill, 2026, which proposes increasing the sanctioned strength of the Supreme Court from 34 to 38 judges, including the Chief Justice of India.
INDIAThe Centre is also set to seek Parliament's approval for the Supreme Court (Number of Judges) Amendment Bill, 2026, which proposes increasing the sanctioned strength of the Supreme Court from 34 to 38 judges, including the Chief Justice of India. Parliament Monsoon Session Day 11: What the ISI, MSME, Banking and SC Judges Bills aim to change| ExplainedAdd DNA as a Preferred SourceTRENDING NOWGold, silver prices today, February 8, 2026: Check city-wise rates in Delhi, Mumbai, Chennai, Kolkata and moreBomb threat to 9 Delhi schools, Bomb squad deployedSourav Ganguly slams PCB's India boycott threat, asks 'backing out of a World Cup for what?'Who is Shivam Mishra? 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Two bills are listed for introduction in the Lok Sabha, and another bill is listed for passing in the House. The fresh session comes after days of disruption amid protests from the Opposition over paper leaks, police excesses on Jantar Mantar protestors, and the Ram Mandir donation row. Parliament Monsoon Session Day 11: Key Bills to be introducedIn Lok Sabha, Union Minister Rao Inderjit Singh is set to introduce The Indian Statistical Institute Bill, 2026, while Finance Minister Nirmala Sitharaman is set to introduce The Bankers’ Books Evidence Bill, 2026. In the Rajya Sabha, Union Minister Jitan Ram Manjhi is set to introduce The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026 for consideration and passing. The Indian Statistical Institute Bill, 2026:The bill seeks to expand the institute's mandate and update its legal framework to meet the requirements of statistics and data science. It proposes granting the institute the status of a body corporate to strengthen governance and enhance academic excellence and research. The President of India will serve as the Visitor, while an 11-member Board of Governors, comprising one government nominee, five external experts (including the chairperson), and five internal members, will function as the institute's principal policy-making body, remaining accountable to the central government. An Academic Council, headed by the Director and comprising all full-time professors and faculty, as the institute's principal academic body, will be established. The Bill replaces the Indian Statistical Institute Act, 1959, which the government says is outdated and lacks adequate provisions. The reform is also intended to help address India's growing demand for skilled data scientists and statisticians in the technology and financial sectors. However, the Faculty members and staff of the institutes have warned of increased government control over its functioning if the existing representative council is replaced. The Bankers’ Books Evidence Bill, 2026:The Bill seeks to replace the colonial-era Bankers' Books Evidence Act, 1891, with a modern legal framework. The Bill seeks to broaden the definition of 'bankers' books" to include digital, virtual, electronic and cloud-based records. It proposes to introduce safeguards requiring courts to record a written "special cause" before summoning bank officers or calling for original banking records in proceedings where the bank is not a party. It also seeks to standardise electronic certifications and digital signature requirements for banking records. The Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026:The Bill proposes major reforms to the MSME framework as the Centre seeks to classify MSMEs based on investment and turnover, with thresholds to be notified later, replacing the existing fixed limits. The Bill proposes making MSME registration voluntary through a digital platform and mandates CPSEs to settle MSME invoices via the RBI-regulated TReDS platform. It also proposes to set strict timelines for mediation (90 days) and arbitration (up to 90 days after pleadings) in payment disputes. Further, the Bill also decriminalises certain offences by replacing criminal penalties with graded monetary fines and warnings. It introduces faster dispute resolution and partial payment provisions for MSMEs during court challenges. It designates the Development Commissioner as the adjudicating officer, with appeals to the MSME Secretary. The Centre is also set to seek Parliament's approval for theSupreme Court (Number of Judges) Amendment Bill, 2026,which proposes increasing the sanctioned strength of the Supreme Court from 34 to 38 judges, including the Chief Justice of India. The Bill replaces an ordinance issued on May 16, 2026, and will take effect retrospectively from that date. The government says the move is aimed at tackling the Supreme Court's backlog of over 92,000 pending cases, enabling more Constitution Benches and faster disposal of cases. The proposal is estimated to cost Rs 14. 04 crore as a one-time expenditure and Rs 10. 56 crore annually for salaries and related expenses. Parliament Monsoon Session: What we know so farThe 2026 Monsoon Session of Parliament is currently underway, running from July 20 to August 13, 2026, with a scheduled total of 19 sittings. The session has been marked by frequent adjournments over the opposition's demands related to the protest at Jantar Mantar against the NEET-UG paper leak. Despite repeated disruptions, Parliament has passed key legislation, including the Anti-Paper Leak Bill in the Lok Sabha to strengthen penalties against exam malpractices and the Vande Mataram Bill in the Rajya Sabha to accord greater recognition to the national song. In coming week, The government is likely to introduce the 'Foreign Contribution (Regulation) Act Amendment Bill' in the Lok Sabha in the coming week, sources said. The government will also seek the passing of the Registration of Births and Deaths (Amendment) Bill, 2026 and the Supreme Court (Number of Judges) Amendment Bill, 2026. Find your daily dose of AllLatest NewsincludingSports News,Entertainment News,Lifestyle News, explainers & more. Stay updated, Stay informed-Follow DNA on WhatsApp.