In a significant legislative development, the Rajya Sabha (RS) on March 26, 2025, passed the Banking Laws (Amendment) Bill 2024, allowing bank account holders to designate up to four nominees. The Lok Sabha had previously cleared the bill in December 2024. The amendment aims to simplify inheritance claims, reduce legal disputes, and offer greater financial flexibility. However, the Opposition raised concerns, arguing that the bill lacked adequate scrutiny and could complicate inheritance proceedings.

Key Provisions of the Banking Laws (Amendment) Bill 2024

The Banking Laws (Amendment) Bill 2024 introduces several critical changes designed to enhance financial security and streamline inheritance processes:

1. Multiple Nominees Rule:

   • Bank account holders can now nominate up to four individuals.

   • The proceeds of the account will be distributed among the nominees as per the specified proportions.

2. Legal Rights for Nominees:

   • Nominees will have legal entitlement to claim the funds after the account holder’s death.

   • This provision aims to reduce disputes over rightful inheritance.

3. Simplified Nomination Process:

   • Banks are required to establish a clear and accessible process for adding, modifying, or removing nominees.

   • The bill mandates that nominee details must be regularly updated and verified.

Opposition’s Criticism and Concerns

While the government promoted the bill as a pro-consumer reform, the Opposition raised objections, arguing that it lacked proper scrutiny.

1. Rushed Passage Without Debate:

   • Opposition leaders criticized the government for fast-tracking the bill without extensive debate.

   • They argued that significant financial legislation required detailed examination and public consultation.

2. Inheritance and Legal Complications:

   • Critics warned that the multiple nominees provision could lead to inheritance disputes.

   • They expressed concerns that the bill did not specify how conflicts between legal heirs and nominees would be resolved.

3. Demand for Safeguards:

   • The Opposition called for stronger legal safeguards to prevent misuse of the new provision.

   • They demanded detailed regulations to avoid ambiguities and protect legal heirs’ rights.

Government’s Defense of the Bill

Defending the bill, Finance Minister Nirmala Sitharaman argued that it is a customer-centric reform aimed at simplifying inheritance processes.

• She stated that allowing up to four nominees would reduce inheritance disputes by ensuring that account holders can clearly define their inheritance preferences.

• Sitharaman assured that the government would introduce clear regulations to prevent potential misuse.

• She emphasized that the bill aligns with international banking practices, which offer multiple nominee options to enhance flexibility and transparency.

Impact on Bank Customers

The passage of the Banking Laws (Amendment) Bill 2024 will have several implications for bank customers:

1. Greater Financial Flexibility:

   • Customers can now distribute their deposits among multiple nominees, ensuring greater flexibility in inheritance planning.

   • This reduces the risk of legal disputes and inheritance conflicts.

2. Simplified Claims Process:

   • The bill aims to streamline the process of inheritance claims.

   • Nominees will have legal entitlement to the funds, expediting claim settlements.

3. Clarity in Wealth Distribution:

   • With the ability to specify proportions for each nominee, account holders can clearly define their wealth distribution.

   • This reduces ambiguity and ensures equitable distribution.

Political Reactions and Industry Response

The passage of the Banking Laws (Amendment) Bill 2024 has sparked mixed reactions from political leaders, financial experts, and industry stakeholders.

• BJP and NDA allies welcomed the bill, calling it a progressive reform that enhances financial security and streamlines inheritance claims.

• Opposition parties, including Congress and TMC, criticized the bill’s hasty passage, calling for greater legislative scrutiny.

• Banking experts appreciated the bill’s intent but stressed the need for detailed regulations to prevent legal complications.

Potential Challenges and Risks

While the bill aims to simplify inheritance processes, it also presents certain challenges:

1. Inheritance Disputes:

   • Allowing multiple nominees could lead to inheritance conflicts with legal heirs.

   • The bill does not clearly define how disputes between nominees and legal heirs will be resolved.

2. Banking System Adjustments:

   • Banks will need to update their systems to accommodate multiple nominees.

   • Ensuring proper verification of nominee details could increase operational challenges.

3. Need for Transparent Guidelines:

   • The government must introduce detailed operational guidelines to prevent misuse.

   • Regular audits and oversight will be necessary to ensure transparent implementation.

The Banking Laws (Amendment) Bill 2024 is a significant legislative reform aimed at simplifying inheritance claims and enhancing financial security. By allowing up to four nominees, the bill offers greater flexibility for account holders. However, concerns raised by the Opposition regarding inheritance disputes and lack of scrutiny highlight the need for clear regulatory guidelines. Moving forward, the government must ensure transparent implementation and address potential legal ambiguities to safeguard customers’ interests.

FAQs: Banking Laws (Amendment) Bill 2024

1. What is the key change introduced by the Banking Laws (Amendment) Bill 2024?
The bill allows bank account holders to nominate up to four individuals, streamlining the inheritance process.

2. Why did the Opposition criticize the bill?
The Opposition argued that the bill was passed without sufficient scrutiny and could lead to inheritance disputes.

3. How will the bill benefit bank customers?
It offers greater flexibility in inheritance planning by allowing multiple nominees and simplifying the claims process.

4. When was the bill passed?
The Lok Sabha approved the bill in December 2024, and the Rajya Sabha cleared it on March 26, 2025.

In a historic move, Maruti Suzuki India Limited has appointed Sunil Kakkar as an Additional and Whole-time Director, effective from April 1, 2025, for a period of three years. This marks the first time an in-house Indian executive has been elevated to the board by Suzuki Motor Corporation (SMC), the Japanese parent company.

The appointment was approved during the board meeting on March 26, 2025, signaling SMC’s growing trust in Indian leadership. With this, Maruti Suzuki’s board now has six Japanese and six Indian directors, reflecting a more balanced governance structure.

Who is Sunil Kakkar?

Sunil Kakkar is a long-standing Maruti Suzuki executive with decades of experience in the company. He has been a key contributor to the company’s operational success and strategic growth.

Kakkar is known for his deep expertise in business operations, corporate governance, and market strategies. His appointment is seen as a recognition of his leadership skills and a testament to Maruti Suzuki’s growing focus on promoting Indian talent.

Significance of Kakkar’s Appointment

Sunil Kakkar’s elevation to the board carries significant implications for Maruti Suzuki and the broader corporate sector:

• First-ever in-house Indian director:
  This appointment breaks new ground for Maruti Suzuki, as no previous Indian executive from within the company had been appointed to the board.

• Balanced representation:
  With an equal 6-6 representation of Indian and Japanese directors, the board now reflects a more collaborative and diverse leadership, improving decision-making efficiency.

• Recognition of local talent:
  Kakkar’s appointment highlights SMC’s growing confidence in Indian leadership, signaling a shift toward greater local representation in decision-making roles.

Impact on Maruti Suzuki’s Leadership

Sunil Kakkar’s inclusion on the board is expected to drive positive changes in Maruti Suzuki’s leadership approach:

1. Localized decision-making:
   Kakkar’s deep understanding of the Indian market and consumer behavior will help Maruti Suzuki make more region-specific and consumer-centric decisions.

2. Stronger representation:
   With an in-house Indian executive on the board, local perspectives will have a stronger voice, enabling the company to be more responsive to domestic challenges and opportunities.

3. Leadership diversity:
   A balanced board with equal Indian and Japanese representation fosters diversity, leading to more inclusive and effective governance.

4. Industry Implications: A Shift Toward Local Talent

Maruti Suzuki’s decision to appoint Sunil Kakkar to the board also signals a wider trend in the Indian auto sector:

• Increased localization:
  The move highlights SMC’s trust in Indian expertise, which could encourage other multinational companies to promote local talent to leadership roles.

• Enhanced employee morale:
  Kakkar’s elevation sends a positive message to Maruti Suzuki employees, boosting morale and demonstrating that in-house talent has a clear growth path to the top.

• Impact on industry norms:
  This appointment could set a precedent for other multinational corporations in India, prompting them to include more local executives in their top leadership teams.

A New Era of Indian Representation

Sunil Kakkar’s appointment as Maruti Suzuki’s first in-house Indian director marks a significant milestone in the company’s history. It reflects Suzuki Motor Corporation’s growing confidence in Indian leadership and signals a new era of local representation in multinational firms.

As Maruti Suzuki continues to dominate the Indian auto market, Kakkar’s presence on the board is expected to enhance strategic decision-making, boost local expertise, and inspire Indian professionals to aim for top leadership positions. This move also strengthens the company’s governance and positions it for more dynamic growth in the future.

India’s rapidly expanding highway network is witnessing a significant boost in toll collections, contributing substantially to infrastructure funding. According to the Ministry of Road Transport and Highways (MoRTH), the top 10 toll plazas in India collected Rs 14,000 crore in revenue between 2019-20 and 2023-24.

Leading the list is the Bharthana toll plaza on NH-48 in Gujarat, which generated Rs 2,043.81 crore during the period. This surge highlights the growing vehicular traffic and the importance of toll revenues in financing India’s infrastructure projects.

Top 10 Toll Plazas by Revenue in India

Here are the top 10 toll plazas in India based on their revenue collections over the last five years:

1. Bharthana Toll Plaza, Gujarat

• Location: NH-48 (Vadodara-Bharuch stretch)

• Total Collection: Rs 2,043.81 crore

• Highest Annual Collection: Rs 472.65 crore (2023-24)
  Bharthana leads the list with its high revenue, driven by heavy commercial traffic and passenger vehicle movement on this busy stretch.

2. Chittorgarh Toll Plaza, Rajasthan

• Location: NH-48 (Chittorgarh bypass)

• Total Collection: Rs 1,745.32 crore
  Situated on the Delhi-Mumbai Expressway, this plaza handles substantial freight traffic, boosting its collections.

3. Shamlaji Toll Plaza, Gujarat

• Location: NH-48 (Gujarat-Rajasthan border)

• Total Collection: Rs 1,680.24 crore
  Strategically located, this toll plaza generates high revenue from commercial vehicles traveling between Gujarat and Rajasthan.

4. Manesar Toll Plaza, Haryana

• Location: NH-48 (Gurugram-Manesar stretch)

• Total Collection: Rs 1,590.47 crore
  This toll plaza, situated on the heavily trafficked Delhi-Jaipur corridor, earns substantial revenue from both freight and passenger vehicles.

5. Kishangarh Toll Plaza, Rajasthan

• Location: NH-48 (Kishangarh-Ajmer stretch)

• Total Collection: Rs 1,520.39 crore
  A key point on the Delhi-Mumbai route, this plaza collects significant tolls from commercial and long-distance vehicles.

6. Dankuni Toll Plaza, West Bengal

• Location: NH-2 (Dankuni-Palsit stretch)

• Total Collection: Rs 1,460.85 crore
  Positioned along the Kolkata-Delhi highway, this plaza benefits from the high volume of freight and passenger traffic.

7. Nallur Toll Plaza, Tamil Nadu

• Location: NH-544 (Coimbatore bypass)

• Total Collection: Rs 1,370.15 crore
  Situated on the bustling Tamil Nadu-Kerala route, this plaza generates significant revenue from interstate vehicle movement.

8. Durgapur Toll Plaza, West Bengal

• Location: NH-19 (Durgapur)

• Total Collection: Rs 1,295.63 crore
  As part of the Golden Quadrilateral project, this toll plaza witnesses heavy traffic flow, driving its revenue growth.

9. Dumri Toll Plaza, Bihar

• Location: NH-19 (Dumri stretch)

• Total Collection: Rs 1,180.92 crore
  This plaza, on a major trade route, generates high toll income from continuous freight movement.

10. Mahuvan Toll Plaza, Uttar Pradesh

• Location: NH-19 (Agra-Kanpur stretch)

• Total Collection: Rs 1,145.72 crore
  Located on a busy stretch, this plaza earns significant revenue from both cargo vehicles and private cars.

Key Factors Driving the Surge in Toll Revenue

Several factors have contributed to the sharp increase in toll collections:

Increase in vehicle traffic: With rising commercial and passenger vehicle ownership, toll collections have surged.
Highway expansion: New highways and expressways, including the Delhi-Mumbai Expressway, have increased the number of toll plazas.
FASTag implementation: The adoption of FASTag has streamlined toll payments, reduced revenue leakages, and boosted collection efficiency.
Freight growth: Increased transportation of goods through trucks and trailers has significantly raised toll earnings.

How Toll Revenue Supports Infrastructure Development

The Rs 14,000 crore collected by the top 10 toll plazas plays a crucial role in funding infrastructure projects:

• Highway maintenance and upgrades: The revenue is used to repair, resurface, and enhance existing highways.

• Expansion projects: Funds support new highway construction and road widening projects.

• Debt servicing: The government uses toll revenue to pay off debts from Public-Private Partnership (PPP) infrastructure projects.

• Technology integration: Toll revenue funds automated toll collection systems and other technological upgrades for smoother operations.

Challenges in Toll Collection

Despite the surge in toll revenue, the system faces some challenges:

• Traffic congestion: Toll plazas, especially during peak hours, face heavy congestion despite FASTag integration.

• Evasion and fraud: Some drivers evade toll payments through loopholes or by taking alternative routes.

• Technical glitches: Malfunctions in FASTag systems occasionally disrupt toll collections.

• Public protests: Toll hikes often face resistance from local commuters and transport associations.

The Future of Toll Collection in India

The government is focusing on making toll collection more efficient and seamless through several initiatives:

• GPS-based tolling: The National Highways Authority of India (NHAI) plans to introduce GPS-based tolling, eliminating the need for physical plazas.

• Automated tolling corridors: Highways are being equipped with free-flow tolling systems to reduce congestion.

• Enhanced FASTag usage: Expanding FASTag coverage will further streamline toll operations.

Toll Revenue Boosting Infrastructure Growth

The Rs 14,000 crore collected by India’s top 10 toll plazas over five years highlights the growing reliance on user fees for infrastructure development. With the expansion of highway networks, increasing vehicle traffic, and the adoption of advanced toll collection technologies, toll revenues are expected to rise further.

Saturday’s Rainfall Brings Relief and Tragedy

Bengaluru recorded 11.8 mm of rainfall on Saturday, which was 6 mm above normal for March. This marked it as the sixth-highest rainfall for the month in the last two decades.

The India Meteorological Department (IMD) reported that the rain caused a one-degree drop in the maximum temperature to 33.4°C. The minimum temperature also dipped by nearly two degrees to 19.5°C, offering temporary relief from the city’s rising heat.

IMD Forecast: Cloudy But Dry Weather Ahead

Despite the heavy downpour, the IMD’s 48-hour weather forecast indicates no further rain for Bengaluru. The city is expected to witness partly cloudy skies, with dry and humid weather prevailing.

The maximum temperature is likely to reach 32°C, while the minimum temperature is forecast to be around 22°C. Meteorologists explained that the localized rain was due to weather instability, which has now cleared.

Tragic Incident: Toddler Killed by Falling Tree

The heavy rains and strong winds led to a heartbreaking incident near Devarajeevanahalli Park in East Bengaluru. A three-year-old girl lost her life after a tree trunk snapped and fell on the bike she was riding with her father.

The child was critically injured and rushed to the hospital but succumbed to her injuries during treatment. The Bruhat Bengaluru Mahanagara Palike (BBMP) has announced a city-wide tree inspection to identify and remove unstable trees to prevent further accidents.

Impact on Traffic and Infrastructure

The heavy rainfall resulted in waterlogging and traffic congestion in several parts of Bengaluru. Low-lying areas experienced flooded streets, while strong winds uprooted trees, blocking major roads.

The BBMP’s emergency teams were deployed to clear the debris and restore traffic flow. However, power disruptions were reported in some areas due to fallen branches damaging electrical lines.

Weather Safety Tips for Residents

Although no rain is forecast, the cloudy conditions may bring occasional strong winds. Here are some precautionary measures for Bengaluru residents:

• Stay updated with IMD weather alerts.

• Avoid parking vehicles under old or unstable trees.

• Drive cautiously on roads with fallen branches or debris.

• Keep emergency contacts and flashlights handy in case of power failures.

Bengaluru is expected to witness cloudy but rain-free weather over the next two days. The recent rainfall brought temporary relief from the heat but also caused damage and tragic incidents. Authorities are working to clear fallen trees and prevent further mishaps.

Katrina Kaif Shares Vicky Kaushal’s Supportive Gesture

During a recent interview at FILA 2025, Bollywood star Katrina Kaif revealed a sweet and thoughtful gesture by her husband, Vicky Kaushal, that melted hearts. She shared how Vicky leaves their home during her Kay Beauty meetings to give her the privacy and space she needs for business discussions.

Katrina explained how most of her brand-related meetings take place at their residence. When Vicky learns about her work schedule, he graciously steps out for the entire day, ensuring she has a distraction-free environment.
“Whenever I tell him I have a Kay meeting, he says, ‘Oh, so you want me out of the house the whole day,’” Katrina revealed with a smile.

Vicky Kaushal: The Ideal Supportive Partner

Vicky Kaushal’s considerate gesture reflects his unwavering support for Katrina’s entrepreneurial journey. His decision to leave the house demonstrates his respect for her career and the importance he places on her professional growth.

In the same interview, Katrina praised Vicky’s emotional support, calling him a “fantastic talker and listener.” She expressed how his compassion and understanding provide her with emotional strength, making him an exceptional partner.

Kay Beauty: Katrina’s Successful Beauty Venture

Launched in 2019, Kay Beauty has become a leading makeup brand in India, known for its diverse range and quality products. Katrina’s hands-on involvement in the brand’s creative and business decisions has been a key factor in its success.

With Vicky’s constant support, Katrina continues to expand her brand, balancing her acting career with entrepreneurship seamlessly.

Fans Shower Praise on Vicky Kaushal

Katrina’s revelation about Vicky Kaushal’s sweet gesture left fans swooning over his kind and considerate nature. Social media was flooded with admiration:

• “Vicky Kaushal is the husband every woman deserves! So thoughtful and supportive.”
• “Katrina and Vicky are couple goals. Their mutual respect is inspiring.”
• “Vicky stepping out for Katrina’s meetings shows pure love and support. What a man!”

Bollywood’s Power Couple Inspires Millions

Since their dream wedding in December 2021, Katrina and Vicky have consistently set relationship goals. Whether attending events together or promoting each other’s projects, the couple’s genuine bond and mutual admiration are evident.

Their love story, filled with support, respect, and admiration, continues to inspire millions of fans.

Vicky and Katrina’s Bond Grows Stronger

Vicky Kaushal’s heartwarming gesture of leaving the house during Katrina Kaif’s Kay Beauty meetings reflects his deep love, support, and respect. His considerate act makes him a true partner, inspiring fans with their strong and healthy relationship.

As Bollywood’s ultimate power couple, Katrina and Vicky continue to win hearts with their genuine connection and unwavering support for each other.

Karnataka’s Crackdown on Property Fraud Through Document Verification

In a decisive move to curb property fraud, the Karnataka government has announced plans to implement PAN and passport verification during property registration. This measure aims to eliminate the widespread use of fake documents and impersonation tactics in real estate transactions.

The announcement came during the Assembly discussion on the Karnataka Stamp (Amendment) Bill 2025. Revenue Minister Krishna Byre Gowda highlighted the need for stricter verification protocols to prevent property-related crimes.

Revenue Minister Exposes the Use of Fake PAN Cards in Real Estate Deals

While addressing the Assembly, Minister Krishna Byre Gowda revealed that fraudsters frequently use counterfeit PAN cards to carry out illegal property transactions. These fake documents enable unauthorized individuals to register properties, resulting in ownership disputes and financial losses for genuine buyers.

“To counter such fraudulent practices, we will collaborate with the Income Tax Department and the Ministry of External Affairs for real-time verification of PAN cards and passports used during property registration,” the minister announced.

Income Tax and MEA to Assist in Real-Time Document Authentication

The Karnataka government plans to collaborate with the Income Tax Department and the Ministry of External Affairs (MEA) to authenticate PAN and passport details in real time. This will ensure that only valid and genuine documents are accepted during the registration process.

• Role of the Income Tax Department: The department will verify the authenticity of PAN cards by cross-referencing them with its database, preventing the use of counterfeit PANs.
• MEA’s Involvement: The Ministry of External Affairs will confirm the validity of passport details, ensuring accurate identification, especially in NRI property deals.

How the New Verification System Will Work

The Karnataka government aims to integrate the property registration system with the IT Department and MEA databases, ensuring seamless and real-time verification.

Key Steps in the Verification Process:

1. Document Submission: Property buyers and sellers will be required to submit their PAN and passport details during the registration process.
2. Real-Time Authentication: The system will instantly verify the authenticity of the submitted documents by cross-checking them with the respective government databases.
3. Fraud Detection Alerts: In case of fake or invalid PAN or passport details, the system will flag the transaction, preventing fraudulent registrations.
4. Digital Record Maintenance: Verified documents will be digitally stored, creating a transparent and traceable record of property transactions.

Impact on Property Buyers and the Real Estate Sector in Karnataka

The introduction of PAN and passport verification is expected to significantly enhance the security and transparency of property transactions in Karnataka.

Benefits for Property Buyers:

• Reduced Fraud Risk: Buyers will be protected from fraudulent property deals involving fake identities.
• Enhanced Transparency: The verification process will ensure that only genuine buyers and sellers participate in property transactions.
• Secure NRI Investments: With passport authentication, NRI investors will gain more confidence in Karnataka’s real estate market.

Impact on the Real Estate Sector:

• Increased Credibility: Stricter verification protocols will boost the credibility of Karnataka’s real estate market.
• Improved Investor Confidence: The reduced risk of fraud will attract more investors, driving growth in the sector.
• Streamlined Registration Process: Real-time verification will minimize fraudulent cases, ensuring smoother and more reliable property transactions.

Challenges in Implementing the New Verification System

While the initiative is expected to enhance security, it may face some implementation challenges:

• System Integration Delays: Connecting Karnataka’s property registration system with the IT Department and MEA databases may take time, causing temporary registration delays.
• Verification Processing Time: Real-time authentication may extend the registration process slightly, but the added security benefits outweigh the minor inconvenience.
• Public Awareness and Training: The government will need to raise awareness among property buyers, sellers, and real estate agents about the new verification norms.

The Karnataka government’s decision to enforce PAN and passport verification in property registration is a bold and much-needed step toward curbing real estate fraud. By collaborating with the Income Tax Department and the MEA, the government aims to strengthen the integrity and transparency of property transactions. This reform will protect genuine buyers, enhance investor confidence, and promote a safer real estate environment in Karnataka.