Union Railway Minister Ashwini Vaishnaw on Friday introduced the Railways (Amendment) Bill, 2024 in the Lok Sabha

Banking Laws Amendment Bill bringing significant changes in the nomination policies in bank accounts has been approved in Lok Sabha. Check the given post for the complete details.

In a bid to improve bank governance and enhance investor protection, the government on Tuesday passed an amendment bill in the Lok Sabha that brings about changes to five banking laws.

Bank stocks saw an uptick as the Lok Sabha passed the Banking Laws (Amendment) Bill, 2024, introducing multiple changes including allowing multiple nominees for depositors and altering regulations for bank directorships.

The Bill piloted by Finance Minister Nirmala Sitharaman was approved by a voice vote. New Delhi: The Lok Sabha has approved the Banking Laws (Amendment) Bill, 2024, introducing significant changes to banking operations in India.

Bill, 2024, allowing up to four nominees per bank account with simultaneous or successive nomination options. Finance Minister Nirmala Sitharaman highlighted the bill’s role in enhancing governance, stability,

Bill, 2024, which allows up to four nominees to bank accounts and redefines 'substantial interest' for directorships. Opposition members have criticised this as a step towards privatisation. We examine the proposals and criticism.

Finance minister Nirmala Sitharaman piloted the Banking Laws (Amendment) Bill which was approved by a voice vote

The Parliament logjam saw a breakthrough on December 3, with both Houses discussing bills and the Lok Sabha passing the Banking Laws (Amendment) Bill, 2024.

Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh,

She said the changes proposed through the Bill will strengthen governance in the sector and enhance customer convenience.