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Lok Sabha Passes Banking Laws (Amendment) Bill Allowing 4 Account Nominees
The Lok Sabha on Tuesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts.
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Banking Laws Amendment Bill To Strengthen Governance: N Sitharaman
Finance Minister Nirmala Sitharaman said on Tuesday that the Banking Laws (Amendment) Bill will strengthen governance in Indian banking sector besides enhancing consumer's and customer's convenience.
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Increased Nomination Limits For Bank Accounts: What The Banking Laws Bill Proposes
Originally introduced in the previous Monsoon Session (August 9), the Bill seeks to improve services for depositors, aiming to streamline banking regulations.
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Private Banks in Taiwan Seek to Explore Virtual Asset Custody Business, FSC Shows Support
During a recent press conference, Hu Zehua, an official from the Financial Supervisory Commission (FSC), announced that the regulatory body is open to allowing financial institutions to participate in trials for virtual asset custody services. The FSC aims to have a draft of a new law outlining compliance requirements ready by the end of this year.
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Nirmala Sitharaman To Move Banking Laws Amendment Bill In Lok Sabha Today
Nirmala Sitharaman will today move the Banking Laws (Amendment) Bill in the Lok Sabha.
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Unstable Bangladesh Can Lead To "Volcanic Eruption", Says Nobel Laureate
Restoration of law and order is the biggest issue facing Bangladesh now and if that cannot be achieved, there will be a spillover effect in neighbouring countries including India, Muhammad Yunus, Nobel laureate and founder of Grameen Bank, told NDTV
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Crypto Industry Criticises Lack of Bank Support for Cryptocurrencies, Asks RBI to Define Crypto-Banking Relations
The crypto industry in India has once again asked the Reserve Bank of India to define the status of the banking with crypto firms in the country. These companies have highlighted the moves taken by financial authorities in the world, who have begun to define the parameters that banks need to follow before growing their relationships with the crypto...
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Basel Committee of Banking Supervision Approves Crypto Asset Disclosure Framework for Banks
The BCBS has given a green light to a ‘disclosure framework’ that will detail how the exposure of banks with crypto assets should go about. The disclosure framework by BCBS directs banks to maintain public records of their crypto engagements and their exposure to these risky assets.
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‘Provide a Level Playing Field for Web3 Businesses’: BWA to FM Nirmala Sitharaman
The Bharat Web3 Association (BWA) has urged FM Nirmala Sitharaman to provide a level playing ground for Web3 startups and businesses to thrive in. The BWA said it is of high importance that Web3 platforms get access to the provision of banking services. The advisory body has further urged the government to encourage investment and growth in the Web...
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Brazil’s Largest Bank Opens Crypto Trading for Over 60 Million of Its Users
Brazil’s largest bank Itau Unibanco has opened crypto trading services for its massive userbase of over 60 million. Guto Antunes, the head of Itaú Digital Assets said that the acceptance of the crypto trading service was high. The bank had conducted weekly surveys with the clients that were part of the trials.
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Brazil to Unveil Second Phase of Crypto Rules by End of 2024: Report
Without disclosing too many details about the ‘internal planning’, Brazil’s Apex bank has confirmed that laws to monitor the use of stablecoins and the role they can play in foreign exchange settlements and other payments are in the pipeline this year.
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"Didi Is Lying...": Amit Shah, At Bengal Rally, Explains Citizenship Law
Home Minister Amit Shah today launched a frontal charge at West Bengal Chief Minister Mamata Banerjee over what he claimed was her "vote bank politics" linked to the Citizenship (Amendment) Act.
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Canada Showing Its Vote Bank Is More Powerful Than Its Rule Of Law: S Jaishankar
By allowing political space to Khalistani separatist elements, the Canadian government is sending a message that its vote bank is "more powerful" than its rule of law, External Affairs Minister S. Jaishankar said.
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Inclusion Into Startup Initiatives, Risk Mitigating Policies: BWA Lists Web3 Needs for Upcoming Government
The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...
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Public Sector Banks Can't Issue Look Out Notices Against Defaulters: High Court
The Bombay High Court today ruled that public sector banks do not have the power in law to issue Look Out Circulars (LOCs) against default borrowers.
-
Lok Sabha Passes Banking Laws (Amendment) Bill Allowing 4 Account Nominees
The Lok Sabha on Tuesday passed the Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees in their accounts.
-
Banking Laws Amendment Bill To Strengthen Governance: N Sitharaman
Finance Minister Nirmala Sitharaman said on Tuesday that the Banking Laws (Amendment) Bill will strengthen governance in Indian banking sector besides enhancing consumer's and customer's convenience.
-
Increased Nomination Limits For Bank Accounts: What The Banking Laws Bill Proposes
Originally introduced in the previous Monsoon Session (August 9), the Bill seeks to improve services for depositors, aiming to streamline banking regulations.
-
Private Banks in Taiwan Seek to Explore Virtual Asset Custody Business, FSC Shows Support
During a recent press conference, Hu Zehua, an official from the Financial Supervisory Commission (FSC), announced that the regulatory body is open to allowing financial institutions to participate in trials for virtual asset custody services. The FSC aims to have a draft of a new law outlining compliance requirements ready by the end of this year.
-
Nirmala Sitharaman To Move Banking Laws Amendment Bill In Lok Sabha Today
Nirmala Sitharaman will today move the Banking Laws (Amendment) Bill in the Lok Sabha.
-
Unstable Bangladesh Can Lead To "Volcanic Eruption", Says Nobel Laureate
Restoration of law and order is the biggest issue facing Bangladesh now and if that cannot be achieved, there will be a spillover effect in neighbouring countries including India, Muhammad Yunus, Nobel laureate and founder of Grameen Bank, told NDTV
-
Crypto Industry Criticises Lack of Bank Support for Cryptocurrencies, Asks RBI to Define Crypto-Banking Relations
The crypto industry in India has once again asked the Reserve Bank of India to define the status of the banking with crypto firms in the country. These companies have highlighted the moves taken by financial authorities in the world, who have begun to define the parameters that banks need to follow before growing their relationships with the crypto...
-
Basel Committee of Banking Supervision Approves Crypto Asset Disclosure Framework for Banks
The BCBS has given a green light to a ‘disclosure framework’ that will detail how the exposure of banks with crypto assets should go about. The disclosure framework by BCBS directs banks to maintain public records of their crypto engagements and their exposure to these risky assets.
-
‘Provide a Level Playing Field for Web3 Businesses’: BWA to FM Nirmala Sitharaman
The Bharat Web3 Association (BWA) has urged FM Nirmala Sitharaman to provide a level playing ground for Web3 startups and businesses to thrive in. The BWA said it is of high importance that Web3 platforms get access to the provision of banking services. The advisory body has further urged the government to encourage investment and growth in the Web...
-
Brazil’s Largest Bank Opens Crypto Trading for Over 60 Million of Its Users
Brazil’s largest bank Itau Unibanco has opened crypto trading services for its massive userbase of over 60 million. Guto Antunes, the head of Itaú Digital Assets said that the acceptance of the crypto trading service was high. The bank had conducted weekly surveys with the clients that were part of the trials.
-
Brazil to Unveil Second Phase of Crypto Rules by End of 2024: Report
Without disclosing too many details about the ‘internal planning’, Brazil’s Apex bank has confirmed that laws to monitor the use of stablecoins and the role they can play in foreign exchange settlements and other payments are in the pipeline this year.
-
"Didi Is Lying...": Amit Shah, At Bengal Rally, Explains Citizenship Law
Home Minister Amit Shah today launched a frontal charge at West Bengal Chief Minister Mamata Banerjee over what he claimed was her "vote bank politics" linked to the Citizenship (Amendment) Act.
-
Canada Showing Its Vote Bank Is More Powerful Than Its Rule Of Law: S Jaishankar
By allowing political space to Khalistani separatist elements, the Canadian government is sending a message that its vote bank is "more powerful" than its rule of law, External Affairs Minister S. Jaishankar said.
-
Inclusion Into Startup Initiatives, Risk Mitigating Policies: BWA Lists Web3 Needs for Upcoming Government
The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...
-
Public Sector Banks Can't Issue Look Out Notices Against Defaulters: High Court
The Bombay High Court today ruled that public sector banks do not have the power in law to issue Look Out Circulars (LOCs) against default borrowers.
