Bank customers can opt for up to four nominees from Nov 1

Beginning next month, a bank customer can opt for up to four nominees in her or his account with a view to ensure uniformity, and efficiency in claim settlement across the banking system.Photograph: Ajay Verma/ReutersThe 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 fi ...