The Reserve Bank of India (RBI) on Tuesday issued comprehensive norms governing nomination facilities in bank accounts, safe deposit lockers and articles held in safe custody.

The new guidelines, titled “Nomination Facility in Deposit Accounts, Safe Deposit Lockers and Articles kept in Safe Custody with Banks) Directions, 2025”, will come into effect from November 1, 2025.

Under the new rules, all banks — including cooperative and rural banks — must offer nomination facilities for deposits, lockers and items held in safe custody. Customers may also choose to opt out of nomination through a written declaration, and such refusal cannot delay account opening, the RBI said.

Banks are required to acknowledge receipt of nomination forms within three working days and mark “Nomination R

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