Which of the following statements about the Banking Laws (Amendment) Bill, 2024 is/are correct?
1. The Bill allows bank account holders to nominate up to four individuals for their accounts, with an option for successive or simultaneous nominations.
2. The threshold for "substantial interest" in directorships has been revised from ₹5 lakh to ₹2 crore.
3. The Bill limits the tenure of directors in cooperative banks to 8 years.
1
Only Statement 1 and 2
2
Only Statement 1
3
Only Statement 2 and 3
4
All the statements are correct
5
Only Statement 3