New Delhi: The Union Government has announced that key provisions relating to nomination under the Banking Laws (Amendment) Act, 2025 will come into force from November 1, 2025. These provisions, contained in Sections 10, 11, 12, and 13 of the Amendment Act, pertain to nomination facilities for bank deposit accounts, articles held in safe custody, and the contents of safety lockers.

The Banking Laws (Amendment) Act, 2025, which was notified on April 15, 2025, introduces a total of 19 amendments across five legislations, including the Reserve Bank of India Act, 1934, and the Banking Regulation Act, 1949.

Under the new rules effective November 1, customers gain the flexibility to make multiple nominations. Depositors may now nominate up to four persons for their accounts, either simultaneo

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