Govt to introduce Banking Laws (Amendment) Bill in LS, seeks to raise nominees per a/c to 4

The government proposed the Banking Laws (Amendment) Bill, 2024, to raise nominees per bank account to four and reclassify 'substantial interest' to Rs 2 crore for bank directorships. The Bill includes cooperative bank reforms, auditor remuneration adjustments, and new bank reporting dates. It also aims to amend several banking-related acts for better governance.