Banking Laws

Key Provisions of Banking Laws (Amendment) Act, 2025

The Banking Laws (Amendment) Act, 2025 introduces key provisions regarding nominations for deposit accounts, effective from November 1, 2025. It allows depositors to make multiple nominations (up to four), enhancing flexibility, transparency, and efficiency in claim settlements. The Act aims to strengthen governance standards, improve depositor protection, and promote customer

Banking Laws

Banking Laws (Amendment) Act, 2025 to Enhance Governance and Protection

The Banking Laws (Amendment) Act, 2025, effective from August 1, 2025, introduces 19 amendments across five key banking legislations. It aims to improve governance standards, enhance depositor protection, and align cooperative banks with constitutional norms. Key changes include redefining 'substantial interest' thresholds, increasing director tenures in cooperative banks,