The Rajya Sabha recently passed the Banking Laws Amendment Bill, aiming to enhance governance in the banking sector and streamline financial processes for depositors. This amendment, already approved by the Lok Sabha, introduces several key reforms to improve banking regulations and reporting.

The Lok Sabha has approved the Banking Laws Amendment Bill, aimed at improving financial security and streamlining nominee management in banking operations. This significant move allows account holders to designate up to four nominees for a single bank account, providing flexibility and enhanced safety for depositors and their families. Key Provisions of the Amendment The