Karnataka Assembly Passes Key Legislative Measures for Financial Security and Development

The Karnataka Assembly swiftly passed eight critical bills, including amendments to protect depositors in private financial institutions and updates to other significant laws concerning GST, urban development, tourism, educational institutions, and groundwater management.

The Karnataka Assembly on Monday unanimously approved eight significant Bills, underscoring a commitment to safeguard depositor interests and enhance regional development. Top among the passed legislation is the Protection of Interest of Depositors in Karnataka Financial Institutions (Amendment) Bill, aimed at enhancing financial security for investors.

Notable legislation also includes the Karnataka Goods and Services Tax (Second Amendment) Bill and the Bruhat Bengaluru Mahanagara Palike (Second Amendment) Bill, both addressing pressing economic and urban demands. Additionally, the Karnataka Tourism Ropeways Bill was passed, poised to boost the state's tourism sector significantly.

Further legislative advancements were made with the approval of the Basavanbagewadi Development Authority Bill, the Karnataka State Universities (Amendment) Bill, the Chanakya University (Amendment) Bill, and the Karnataka Groundwater (Regulation and Control of Development and Management) (Amendment) Bill, each contributing to comprehensive state-level reforms.

(With inputs from agencies.)