Govt to introduce Banking Laws (Amendment) Bill in LS, seeks to raise nominees per a/c to 4
NEW DELHI, Aug 9 (PTI): The government is scheduled to introduce the Banking Laws (Amendment) Bill, 2024 which seeks to increase the option for nominees per bank account to four, from existing one, among others.
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, which was fixed almost six decades ago.
As per the revised list of business of Lok Sabha, Finance Minister Nirmala Sitharaman is scheduled to introduce the Banking Laws (Amendment) Bill, 2024 later in the day.
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