New Delhi: The Rajya Sabha on Tuesday passes the Banking Regulation (Amendment) Bill 2020 through voice vote on Tuesday.
Union Finance Minister Nirmala Sitharaman during the discussion said, ” This set of amendments to the Banking Regulations (Amendments) Bill is being brought to completely protect the interests of depositors. There are only a few amendments, but they are coming in with a singular objective of protecting the depositors.”
“If at all we need to restructure any such co-operative banks then we need to be restructured without a moratorium period. By amending Section 45 we are able to give a quick recovery, quick payback, and also make sure the interests of the depositors are safeguarded,” she said.
