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          Sir, with your permission, here I may be permitted to read from the Statement of Objects and Reasons. What the Minister says in paragraph 4 is this.

           “The legal entity identifier is a 20 character unique identity code assigned to entities which are parties to a financial transaction and would be unique across the globe.”.

          This is necessary in this era of globalization. But at the same time, you also very well know that in our nation, there still exists the barter economy; and there still exists a parallel economy consisted by black money. Now-a-days it has become very easy for the flight of black money from this nation to abroad, to any other nation, and for the import of black money, a flight from abroad to India is also much speedier. We all understand that that happens in this nation. Even whatever the G-20 nations may say and whatever laws we make, always a mouse finds a hold somewhere. And, it happens. At the same time, the money or the legal tender, takes much time to reach to the recipient. So, this happens. How can this be overcome? I ask such a question because this is a very important Bill. Many of our colleagues have raised that point. We did not get much time to go through this Bill because only yesterday the hon. Minister introduced this Bill in the House and today the Bill is here for consideration and passing. I would say that they have raised a very pertinent point that this Bill should have been sent to the Parliamentary Standing Committee. The Standing Committee should have taken the initiative to collect evidence and have a discussion with various stakeholders.