Parliament updates: Lok Sabha passes The Banking Laws (Amendment) Bill, 2024
Parliament winter session news updates: Catch all the latest news developments related to the proceedings in the Parliament here
 "Nirmala Sitharaman, Nirmala, Finance Minister")
She said that RBI and finance ministry should be given credit for stable banking system. | File Photo: PTI
The Lok Sabha on Tuesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh, which was fixed almost six decades ago.
Replying to the discussions on Banking (Amendment) Bill, Finance Minister Nirmala Sitharaman said, " I am very happy that India and it banking system is where it is today. I would appeal to all members to look at the world around. Where are their banking systems?" "I must credit the RBI, and finance ministry, since 2014, we have been extremely cautious and ensured that banks remain stable," she said. The Rajya Sabha began functioning normally on Tuesday with members raising issues of public importance.The House took up the scheduled Zero Hour, which was followed by the Question Hour. The Rajya Sabha failed to transact any business since the start of the Winter Session on November 25 as opposition members continued to raise an uproar over several issues.
The Parliament is expected to resume its normal functioning from Tuesday after days of disruption over demands of opposition parties, with Parliamentary Affairs Minister Kiren Rijiju stating that members shared concern over the stalemate and "everyone has accepted that discussions will be held from tomorrow".
Parliament's proceedings have seen disruptions since the beginning of the Winter Session amid protests by opposition parties over their demands, including a discussion on Adani issue, Sambhal violence and the Manipur situation. On Monday, the Lok Sabha and Rajya Sabha were adjourned till 12 noon and then for the rest of the day.
The winter session of Parliament began on November 25 and will continue till December 20.
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Lok Sabha adjourned till tomorrow
After passing the Banking (Amendment) Bill, the presiding officer adjourned the house till tomorrow.
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Lok Sabha passes Banking Laws (Amendment) Bill allowing 4 nominees in bank accounts
The Lok Sabha on Tuesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts. The Bill piloted by Finance Minister Nirmala Sitharaman was approved by a voice vote.
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FM Sitharaman addresses concerns of opposition on Banking (Amendment) Bill
Sitharaman addressed a concern that member Dr. Rani Shankar raised, saying that basic account holders and Jan Dhan holders are not being penalised. She further addressed the issue of cyber fraud. She said that the Indian Cyber Crime Coordination Centre is working to redress the issue, and also highlighted the cyber crime hotline set up by authorities.
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Not even one employee removed due to amalgmation, says FM Sitharaman
FM Nirmala Sitharaman on Tuesday clarified that only successive nomination will be allowed. She said that the amendment seeks to extend the tenure of the director of co-operative banks to 10 years.
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68% of the Mudra loans go to women, highlights FM Sitharaman
Replying to discussions on Banking (Amendment) Bill, FM Sitharaman shared that 68 per cent of the Mudra loans go to women, and that 44 per cent of Svanidhi is also going to women. She highlighted that there are more than one lakh Bank Mitras who are women, from a total of 12 lakh.
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All public sector banks are profitable, says FM Sitharaman
Replying to discussions on Banking (Amendment) Bill, FM Sitharaman said that all public sector banks are profitable; total profit was Rs 85,520 crore in first half of current fiscal.
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53 cr Jan Dhan accounts have total deposits of Rs 2.37 trillion, says FM Sitharaman
Replying to discussions on Bnking (Amendment) Bill, FM Sitharaman said that 53 crore Jan Dhan accounts have total deposits of Rs 2.37 trillion, ande average balance per account has risen to Rs 4,397 from Rs 1,065 in 2014.
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Rajya Sabha proceedings adjourned for the day
After taking special mentions during the proceedings, the Rajya Sabha chair adjourned the house for the day.
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AAP MP Raghav Chadha highlights issues faced by air travellers
Seeking regulation of food prices at airports, AAP MP Raghav Chadha on Tuesday asked the government to make the 'dream of air travel' possible for the common man. “Air tickets are very costly and air travel is a dream for the common man. The overcrowding in airports is worse than bus and rail stations,” he said.
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Opposition MPs hold protest over Adani issue in Parliament
Several INDIA bloc MPs on Tuesday staged a protest demanding an investigation into the Adani issue through a joint parliamentary committee.
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Speaker agrees to expunge 'Indira Gandhi's name' after Opposition protests against Sambit Patra's remark
Parliamentary Affairs Minister Kiren Rijiju defended Sambit Patra's remark on Indira Gandhi, stating that the House should function according to the established order.
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Bharatiya Vayuyan Vidheyak tabled in Rajya Sabha
The Lower House has already passed the Bill in the previous Monsoon session. Union Civil Aviation Minister Kinjarapu Rammohan Naidu tabled the bill for debate and passage.
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Banking Laws (Amendment) Bill to strengthen governance, enhance customer convenience: FM
The changes proposed through the Banking Laws (Amendment) Bill, 2024, will strengthen governance in the sector and enhance customer convenience, Finance Minister Nirmala Sitharaman said on Tuesday. Moving the bill for consideration and passing in the Lok Sabha, the Minister said a total of 19 amendments are being proposed to bring changes in the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.
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Despite logistical challenges and Covid, forces countered Chinese troops: Jaishankar
After Galwan Valley clashes, we were addressing situation that not only saw fatalities but events that needed heavy weaponry deployment, EAM S Jaishankar said.
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Amassing of troops by China in eastern Ladakh in 2020 resulted in face-offs at number of points: S Jaishankar
We remain committed to engaging with China to arrive at fair, mutually acceptable framework for boundary settlement, Jaishankar said in the Lok Sabha today.
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First Published: Dec 03 2024 | 10:55 AM IST
