https://www.taxtmi.com/news?id=38771 Parliament enacted the Banking Laws (Amendment) Bill, 2024, permitting up to four nominees per bank account, a procedural change criticised as insufficient to protect depositors. The commentary links declining public confidence to rising banking and digital payment fraud, KYC vulnerabilities, high lending rates, low deposit returns and rural branch closures. It proposes interest rate relief and subsidised home loans, mandated cybersecurity spending and biometric authentication, tighter oversight of banking charges, improved complaint resolution, strengthened KYC safeguards, financial literacy initiatives and reforms to loan recovery practices to restore depositor trust. en-us Thu, 27 Mar 2025 00:46:02 +0530 Thu, 27 Mar 2025 00:46:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=38771 Parliament enacted the Banking Laws (Amendment) Bill, 2024, permitting up to four nominees per bank account, a procedural change criticised as insufficient to protect depositors. The commentary links declining public confidence to rising banking and digital payment fraud, KYC vulnerabilities, high lending rates, low deposit returns and rural branch closures. It proposes interest rate relief and subsidised home loans, mandated cybersecurity spending and biometric authentication, tighter oversight of banking charges, improved complaint resolution, strengthened KYC safeguards, financial literacy initiatives and reforms to loan recovery practices to restore depositor trust. News - Thu, 27 Mar 2025 00:46:02 +0530 https://www.taxtmi.com/news?id=38771