THE Lok Sabha last week passed a slew of amendments to the banking laws, by bringing in as many as 19 amendments to the existing pieces of legislation governing the banking system, including that of the RBI Act. But of the 19 changes introduced, just two of them go a long way in the real service of the common man—those dealing with the inoperative accounts and the unclaimed deposits in banks which together add up to more than a ₹1 lakh crore, and those governing the nomination facilities at banks.
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