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Banking Bill cleared in RS through voice vote

Hindustan Times

|

March 27, 2025

The Rajya Sabha on Wednesday passed the Banking Laws (Amendment) Bill 2024, which allows account holders to have up to four nominees and grants more freedom to lenders to decide on remuneration of its auditors.

Banking Bill cleared in RS through voice vote

The Lok Sabha had passed the bill in December last year.

Replying to a debate on the bill in the house, finance minister Nirmala Sitharaman said even though non-performing assets of banks had come down drastically, the Union government was committed to taking stringent action against "wilful defaulters". She further said the proposed amendments would strengthen governance in the banking sector and enhance customer convenience with respect to nomination.

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