Key provisions relating to Bank nomination to come into force from November 1

Key Provisions relating to Nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1.

The Banking Laws (Amendment) Act, 2025 was notified on April 15. It contains a total of 19 amendments across five legislations—the Reserve Bank of India Act, 1934, Banking Regulation Act, 1949, State Bank of India Act, 1955 and Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980.

Advertisement

The notification said the provisions of the Banking Laws (Amendment) Act, 2025 “shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint” and different dates may be appointed for different provisions of the Act.

Accordingly, the Central Government has notified that the provisions contained in