New Bill Increasing Nominees Count To Be Tabled In LS?

The BJP-led Union Government introduced many sensational tables in the House in the last two terms. It looks like the BJP would continue to do the same in the third term too. Recently BJP tabled the Waqf (Amendment) Bill, 2024 which seeks a few amendments to the existing bill.

Now it's the turn of Bank Bill to likely get tabled. As of now, one person can pick only one nominee for the bank accounts. However, the new bill which is expected to be tabled would propose taking the nominees count to four from the existing one.

Bank account holders should pick a nominee who can be the heir or beneficiary of the account. At the time of opening the account, the holder can pick a nominee. The table talks about increasing the same to four.

The national media is abuzz that the BJP is gearing up to table the Banking Laws (Amendment) Bill, 2024 in the House which gives an opinion to have four nominees. Now only one nominee is allowed.

The bill is expected to be tabled in Lok Sabha today by Finance Minister Nirmala Sitharaman. NDTV Profit reported that the bill might also come with a big proposal to change the substantial interest for the directorships. From the existing limit of Rs 5 lakh, the limit might be increased to Rs 2 crore changing the limit after many decades.