The Union Cabinet has given its approval for introducing amendments to the Benami Transactions (Prohibition) (Amendment) Bill, 2015.

The Union Cabinet on 20 July 2016 approved a proposal to introduce amendments to the Benami Transactions (Prohibition) Amendment Bill, 2015 in Parliament.
•    The amendments aim to strengthen the Bill in terms of legal and administrative procedure so as to overcome the practical difficulties which may arise in the implementation of the provisions of the Bill when it becomes an Act.
•    The legislation is intended to effectively prohibit benami transactions and consequently prevent circumvention of law through unfair practices.
•    The amendments will empower the Government to confiscate benami property by following due procedure. However, those who declare their benami properties under income declaration scheme will get immunity under the Benami Act.
•    The Benami Transactions (Prohibition) Act was earlier enacted in 1988, but the rules under that Act could not be formulated due to inherent infirmities in it. 
•    Following this, in 2011 the government introduced a Benami Transactions (Prohibition) Bill in Parliament.