Union Minister of State for Finance Pankaj Choudhary tabled the Banking Laws (Amendment) Bill 2024 in the Lok Sabha today. In order to improve and modernize the banking industry’s regulatory environment, this bill aims to alter a number of important banking legislation. The Reserve Bank of India Act of 1934, the Banking Regulation Act of 1949, the State Bank of India Act of 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980 are among the acts that have been recommended to be amended. The government’s dedication to enhancing the efficacy and efficiency of banking laws is reflected in the bill’s goal of streamlining banking operations and bringing them into line with modern financial practices.