The key provisions relating to nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1, 2025, according to a notification issued by the Central Government.

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

As per the latest notification, the provisions contained in Sections 10, 11, 12 and 13 of the Amendment Act – which deal with nomination facilities for deposit accounts, articles kept in safe custody, and safety lockers – will come into force on November 1, 2025.

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