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Banking Laws and Willful Defaulters: Striking a Fair Balance
BUSINESS ECONOMICS
|May 1 - 31, 2025
Last Month, the Indian Parliament passed the Banking Laws (Amendment) Bill, 2024, a progressive step allowing bank account holders to nominate up to four individuals.
Finance Minister Nirmala Sitharaman deserves high praise for championing this reform, which empowers bank account holders to nominate up to four individuals, enhancing flexibility and security for countless families. During the Rajya Sabha debate, Sitharaman also highlighted her unwavering commitment to tackling financial misconduct. She pointed to 912 cases tied to bank frauds, including willful defaulters, filed as of 2025, with 239 prosecution complaints before special courts and nine individuals declared fugitive economic offenders by December 31, 2024. Her determination to pursue genuine culprits is laudable, reflecting a strong resolve to cleanse the banking sector and hold true offenders accountable.
Denne historien er fra May 1 - 31, 2025-utgaven av BUSINESS ECONOMICS.
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FLERE HISTORIER FRA BUSINESS ECONOMICS
BUSINESS ECONOMICS
Bela: The voice that empowered women, now immortalised on screen
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BUSINESS ECONOMICS
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2 mins
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2 mins
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