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Union Budget FY26: Key banking amendments in the spotlight, yet again

Among the most-watched moves pertaining to the banking sector will be possible changes to the RBI Act, the Banking Regulation Act and the Banking Companies Act

Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in the Lok Sabha to amend four pieces of legislation.
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The first SEAC to evaluate new banking licenses was set up in March 2021, headed by former RBI deputy governor Shyamala Gopinath.

Raghu Mohan New Delhi

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It is that time of the year again when the Union Budget upon us. Finance Minister Nirmala Sitharaman is expected to present the Budget tomorrow morning, under the clouds of slowing growth, a falling rupee, and a conspicuous decline in demand. 
In the banking sector, follow-through moves to the Union Budget FY24's proposed amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 will be in focus. 
It was widely believed by industry watchers that these amendments would be taken up

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