Banking Laws Amendment Bill To Strengthen Governance: N Sitharaman

The Minister moved the Banking Laws (Amendment) Bill, 2024, for consideration and passing in Lok Sabha,

Finance Minister Nirmala Sitharaman said on Tuesday that the Banking Laws (Amendment) Bill will strengthen governance in Indian banking sector besides enhancing consumer's and customer's convenience with respect to nominations and protection of investors.

The Minister moved the Banking Laws (Amendment) Bill, 2024, for consideration and passing in Lok Sabha,

The bill seeks to improve governance standards and provide consistency in reporting by banks to the Reserve Bank of India. The amendments will also ensure better protection for depositors and investors and will also improve the quality of services in the public sector banks.