• RBI and Department of Banking have announced new rules to nominations and lockers.


• These rules are to be implemented for the safety of consumers and transparent transactions.


• As per the new procedure, enrollment of locker holders has been made mandatory.

Banking Update Marathi News: of the country in the banking sectorCustomers are getting a lot of convenience due to the new rules. The Finance Ministry has announced nomination reforms with effect from November 1, 2025, which will give depositors more choice and transparency in the nominee process. These changes are aimed not only at giving customers more control but also at simplifying and speeding up the settlement of banking claims.

No. of nominees

According to the new rules, bank customers now max to four persons Can nominate. These nominations can be made simultaneously or consecutively. This will give the depositors the option to choose the nomination as per their preference, which was not possible earlier.

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Different rules for deposit accounts and locker services and for nominees

For deposit accounts, customers can make simultaneous or consecutive nominations as per their convenience. However, for safe custody and locker items, only consecutive nominations will be valid. This is done to make the process of claiming this property simple and easy.

Simultaneous and consecutive nominees

nominee at the same time : Customers can divide their funds among four nominees at different percentages. Note that the total percentage must be 100 percent. This ensures fair and accurate distribution of funds among all nominees.

Consecutive nominees : If the first nominee passes away, the next nominee automatically becomes active. This eliminates any difficulties in filing claims and identifying the rightful heirs.

What would be the benefit?

These new rules will give more flexibility to depositors in terms of nomination and increase transparency and flexibility in the banking system. It will bring uniformity in reporting to the Reserve Bank (RBI), enhance depositor protection, improve audit quality in public sector banks and enhance customer service.

Implementation of new rules

The new nomination rules 2025, which will come into effect from 1 November 2025, are a big win for bank customers. The main benefit is the flexibility to name up to four nominees for your deposits and lockers. The purpose of this decision is to facilitate and expedite the settlement of claims.

For bank accounts, you can now choose between listing all four names at once (simultaneously) with clear percentage shares, or listing them in order of priority (sikau). For lockers and safe custody, only learning method is allowed. These provisions ensure that your assets are dealt with according to your wishes.

By simplifying the process, the government hopes to increase transparency and efficiency in the entire banking system. Keep an eye on the new Banking Companies (Registration) Rules, 2025, which will contain detailed information on the final application steps.

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