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Banking Laws (Amendment) Bill 2024: Strengthening Governance and Modernizing the Banking Sector

  • Unique Paper ID: 172274
  • Volume: 11
  • Issue: 8
  • PageNo: 2528-2531
  • Abstract:
  • The Central Government has passed the Banking Laws (Amendment) Bill 2024 on December 3, 2024 in the Lok Sabha has brought significant changes to five vital banking legislations. Through this bill, a total of 19 amendments are being made in 7 key areas in the acts like Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980. The amendments goal is to strengthen governance, improve depositor and investor protection, and develop administrative efficiency in both public and cooperative banking sectors. This paper studies the seven key areas of reform, analyzing their inevitability, implications, and possible outcomes for the banking ecosystem.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 8
  • PageNo: 2528-2531

Banking Laws (Amendment) Bill 2024: Strengthening Governance and Modernizing the Banking Sector

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8.01 (Year 2024)
UGC Approved
Journal no 47859

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