The government gave green signal to the Banking Laws Amendment Bill that seeks to align the voting rights in banks in proportion with the equity holding.
Presently, the voting rights of a shareholder is limited to 1 per cent in state-owned banks and 10 per cent in private banks irrespective of the equity holding.
The Amendment Bill, which was cleared by the Union Cabinet, will now be tabled in Parliament for approval.
The amendments, once approved by Parliament, will enhance the voting power of shareholders in line with the portion of equity held by them.
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