Joint account holders can also avail nomination facility: RBI

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Joint account holder can also avail nomination facility: RBI
    Reserve Bank of India (RBI) has proposed the use nomination facilities by banks for depositors.

    The proposal came after RBI found that the customers opening joint accounts with or without "either or survivor" mandate, are turned away from exercising the nomination facility.

    The banking regulator made clear that nomination facility is available for joint deposit accounts too and notified banks to guarantee that their branches offer nomination facility to all deposit accounts including joint accounts holders.

    In a note to regional rural banks CD Srinivasan, RBI chief general manager, said, "Banks are advised to ensure strict compliance of the instructions." RBI also said while thumb impression on nomination forms is required to be attested by two witnesses, and added, "Signatures of the account holders need not be attested by witnesses."

    Read more about: rbi
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more