National

Rajya Sabha Passes Banking Laws (Amendment) Bill, 2024 via Voice Vote

Published

1 year ago

March 27, 2025

On Wednesday, the Parliament approved the Banking Laws (Amendment) Bill, 2024, with the Rajya Sabha passing it through a voice vote. This follows the Lok Sabha’s approval of the Bill in December 2024.

Among the key provisions of the new Bill is the allowance for bank account holders to designate up to four nominees.

Additionally, the Bill proposes to redefine the term ‘substantial interest’ in a bank, increasing the threshold from the current Rs 5 lakh to Rs 2 crore, a limit that has remained unchanged for nearly sixty years.

Union Finance Minister Nirmala Sitharaman addressed the Parliament, highlighting that while Non-Performing Assets (NPAs) have significantly decreased, the government remains steadfast in its commitment to take tough action against willful defaulters. She noted that over the past five years, the Directorate of Enforcement has initiated approximately 912 cases related to bank fraud, including those involving willful defaulters.

In response to concerns raised by opposition members about bad loans during the discussions, the Finance Minister clarified, “Write-offs do not equate to waiving off loans,” affirming that banks will persist in their efforts to recover funds. She shared that public sector banks recorded their highest-ever profit of around Rs 1.41 lakh crore in the last fiscal year and expressed confidence that profitability will continue to rise in 2025-26.

The Finance Minister emphasized that the amendments will influence five different acts, making this initiative distinct. She noted, “It is also unique due to the collaboration of eight teams on these amendments, ensuring all necessary changes align with the objectives laid out in the budget speech.”

Once enacted, the amendment will permit a director of a Central Cooperative Bank to also serve on the board of a State Cooperative Bank. Furthermore, the Bill aims to extend the tenure of directors (excluding the chairman and whole-time director) in cooperative banks from 8 years to 10 years, in accordance with the provisions of the Constitution (Ninety-Seventh Amendment) Act, 2011.

Regarding bank lockers, the Bill stipulates that only simultaneous nominations will be permitted, a practice already in use for insurance policies and other financial instruments.

The Bill also aims to enhance governance standards, ensure consistency in banks’ reporting to the Reserve Bank of India, provide greater protection to depositors and investors, improve the quality of audits in public sector banks, enhance customer convenience concerning nominations, and extend the tenure for directors in cooperative banks.

National

Jammu University Introduces Fuel-Saving Measures

Published

2 days ago

May 14, 2026

Namma Kudla

National : The University of Jammu has announced several fuel-saving measures following Prime Minister Narendra Modi’s appeal for fuel conservation. Vice-Chancellor Prof Umesh Rai said the university has decided to conduct all PhD viva voce examinations online to reduce travel and save fuel.

The university will also prefer virtual speakers for national and international conferences. In another step, the Academic Council meeting planned in Poonch has been shifted to the Jammu University campus to avoid unnecessary travel.

Prof Rai said the measures will help save fuel, time and resources. He also encouraged university staff to use bicycles and carpool while travelling to the campus.

National

One Year On: Pahalgam Attack Still Haunts the Nation

Published

4 weeks ago

April 21, 2026

Namma Kudla

National: One year after the deadly terror attack in Pahalgam, the nation remembers the 26 people who lost their lives. The attack took place on April 22 at Baisaran, a popular tourist spot.

At first, reports said only five people were injured. Later, it became clear that it was one of the worst terror attacks in the region in decades. Terrorists came out of the forest and opened fire on tourists.

Survivors said the attackers separated men from women and children. They then shot the men at close range. Many victims were reportedly targeted after being asked about their religion.

A heartbreaking image of Himanshi Narwal sitting beside her husband’s body became a symbol of the tragedy. Her husband, a naval officer, was among those killed.

The group The Resistance front, linked to Lashkar-e-Taiba, claimed responsibility. The case was investigated by the National Investigation Agency.

After months of tracking, security forces launched Operation Mahadev. On July 28, 2025, all three terrorists were killed after a long search operation.

The attack remains a painful memory and a reminder of the need for strong security.

National

Social Media Influencer-Turned Gangster Held Abroad

Published

1 month ago

April 9, 2026

Namma Kudla

New Delhi: Rao Inderjeet Yadav has been arrested in Dubai. He is wanted in a murder case from Haryana.

He fled India in 2024 after a businessman was killed in Rohtak. Police had been searching for him since then. Officials said Dubai authorities have asked for documents. He is likely to be brought back to India soon.

Yadav faces more than 15 criminal cases. These include extortion, fraud, and illegal land deals. The Enforcement Directorate also investigated him for money laundering. Raids led to the seizure of cash, cars, and documents.

He also ran a music company called Gems Tunes. It produced regional songs.

Yadav had a large social media following. He often showed his rich lifestyle online. He has denied all charges. He claims he is being framed.

Police are now preparing for further action.