Banking Laws (Amendment) Bill introduced in LS
Finance Minister Pankaj Chaudhary introduced the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha, proposing to increase the number of bank account nominees to four and redefine 'substantial interest' for directorships. The bill also aims to change bank reporting dates, enhance auditor remuneration, and amend several key banking laws. Finance Minister Nirmala Sitharaman addresses concerns about cooperative societies and the bill's implications.
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Finance Minister Introduces Major Changes in Banking Laws: Nominee Limits, Directorships, and More; Image | Pixabay