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ARTICLE · 23 APRIL 2025

Review Of The Banking Laws Amendment Bill

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The Banking Laws (Amendment) Bill, 2024 which was passed in the Lok Sabha on December 3, 2024, introduces several critical changes to existing banking laws in India, aiming to modernize and streamline the banking sector.

IndiaFinance and Banking
Aarna Law
Aarna Law

The Banking Laws (Amendment) Bill, 2024 which was passed in the Lok Sabha on December 3, 2024, introduces several critical changes to existing banking laws in India, aiming to modernize and streamline the banking sector. The law outlines several major reforms with the aim of bettering the governance of banks, increasing the protection afforded to investors as well as enhancing customer ease.

This Bill amends 5 major pieces of legislation that for the crux of banking regulations in India such as

  • The 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, 1970 and 1980.

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