Current Affairs · Banking Sector Legislation
With reference to the Banking Laws (Amendment) Act, 2025, consider the following statements: I. It revises the threshold for determining 'substantial interest' in banking companies from ₹5 lakh to ₹2 crore. II. It permits Public Sector Banks to transfer certain unclaimed shares, interest, and bond redemption amounts to the Investor Education and Protection Fund (IEPF). III. It mandates that the tenure of all directors in cooperative banks, including chairpersons and whole-time directors, shall be exactly ten years. IV. It empowers Public Sector Banks to determine the remuneration of statutory auditors. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and IV only✓
- 2I and III only
- 3II, III and IV only
- 4I, II, III and IV
Correct answer
I, II and IV only
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