New Delhi, Aug. 10 -- A new Bill proposed in the Parliament has a provision which says that deposit and locker holders can name up to four nominees instead of one.

The Bill that carries this provision is Banking Laws (Amendment) Bill which was introduced in Lok Sabha on Friday.

The Bill also has provisions for new reporting dates among others.

The Banking Laws (Amendment) Bill "seeks to improve governance standards, provide consistency in reporting by banks to the RBI, ensure better protection for depositors and investors, improve audit quality in public sector banks, and extend the tenure of the directors (other than Chairperson and Whole-Time Director) in co-operative banks," a government source said, reported Hindu Business Line.

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