Govt is amending Banking Regulation Act to benefit depositors: FM
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New Delhi, Sept. 17 -- The government has brought amendments to the Banking Regulation Act, 1949 in order to protect the interests of the depositors, Union Finance Minister Nirmala Sitharaman said in Parliament on Wednesday.
The Finance Minister said the government is trying to bring amendments in order to protect the interest of depositors who in the last two years have been put to hardships.
The depositors in some unfortunate situations in the banks or cooperative societies, which are also operating as banks, are put to hardship, the Minister said while moving the Banking Regulation (Amendment) Bill, 2020 to amend the Banking Regulation Act, 1949 in the Lok Sabha.
She said the government had introduced the Bill so that the depositors...
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