New Bank Nomination Rules 2025: A big change is taking place in the banking system. Account holders will now be able to nominate not one but maximum four persons in their bank account. Announcing this new system, the Finance Ministry said that its objective is to make the claim settlement process more transparent, equitable and effective. This rule will be applicable across the country from November 1, 2025. The ministry said that key provisions to nomination of individuals in accounts will come into force next month under the Banking Laws (Amendment) Act, 2025.

When was the Act notified?

This Act was notified on April 15, 2025. It is governed by the Reserve Bank of India Act, 1934; Banking Regulation Act, 1949; It makes a total of 19 amendments to 5 laws including the State Bank of India Act, 1955 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980. This amendment allows bank customers to nominate up to four persons in their accounts simultaneously or sequentially. This will facilitate claim settlement for account holders or their legal heirs.

Punjab State Dear Diwali Bumper Lottery 2025 Result: Prize from Rs 7000 to Rs 11 crore, know when, where and how to watch Punjab State Dear.

What did the ministry say?

The ministry’s statement has also come out regarding this. It states that to bring transparency in the account nomination process, customers will be able to specify the share or percentage of each nominee, thereby ensuring 100% share and eliminating any possible disputes. Only serial nomination is allowed for bank safes and lockers. This means that on the death of one nominee, the rights will be inherited by the next nominee. The ministry said that these provisions will facilitate bank depositors to choose the nominee of their choice.

Customers can take these steps

According to the Finance Ministry, these amendments will allow bank customers to nominate up to four individuals for their accounts simultaneously or sequentially. This will facilitate claim settlement for account holders or their legal heirs. The ministry said that to bring transparency in the account nomination process, customers will be able to specify the share or percentage of each nominee, thereby ensuring 100% share and eliminating any potential disputes.

stake settlement option

Only serial nomination is allowed for bank safes and lockers. This means that on the death of a nominee, the nominee will inherit the rights. The ministry said that these provisions will facilitate bank depositors to choose the nominee of their choice.

Huge fall in the price of gold, now investors have their eyes on jewelery stocks, know who will give strong returns.

The post Bank Nominee Rules 2025: There is a big change in this rule to banking, the entire system will change from November 1 appeared first on Latest.