From November 1, 2025, bank customers can nominate up to four persons in their accounts, either simultaneously or successively. The Banking Laws (Amendment) Act, 2025, aims to ensure transparency, uniformity, and efficient claim settlement across all banks

New Delhi: Beginning next month, a bank customer can opt for up to four nominees in her or his account with a view to ensuring uniformity and efficiency in claim settlement across the banking system.

The key provisions relating to Nomination under the Banking Laws (Amendment) Act, 2025, will come into effect from November 1, 2025, a finance ministry statement said on Thursday.

The Banking Laws (Amendment) Act, 2025, was notified on April 15, 2025. It contains a total of 19 amendments across five legislations — the Reserve Bank of Ind

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