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BANKS TO ALLOW FOUR NOMINEES FOR ACCOUNTS, LOCKERS NOW
Hindustan Times East UP
|October 24, 2025
Starting next month, you'll be able to have as many as four nominees for your bank accounts and lockers, compared to just one at present.
On Thursday the government said some key provisions of the Banking Laws (Amendment) Act, 2025, including changes to nomination guidelines, would come into effect from 1 November. The government had previously notified the public that Sections 10, 11, 12 and 13 of the Act would come into force from next month These include rules related to nominees for deposit accounts, articles kept in safe custody, and the contents of bank lockers.
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