RBI Rules of Bank Account Nominee: In today’s time, there is hardly anyone who does not have an account in the bank, otherwise everyone keeps a bank account and uses it for depositing money and taking advantage of various schemes. Even one or the other nominee is added to the bank account. Any member of the family can be added as a nominee. The Reserve Bank of India had given a provision to add only one nominee to the bank account, but now it has been changed.
Not 1 or 2, 4 people can be made nominees
According to the Banking Laws (Amendment) Bill, a person can add 4 nominees to his bank account. On Tuesday, December 3, Finance Minister Nirmala Sitharaman introduced the Banking Laws Amendment Bill 2024 in the Lok Sabha, which contained many rules related to banking and has been approved.
During the budget speech in July 2024, Finance Minister Nirmala Sitharaman mentioned the passed Banking Laws (Amendment) Bill, 2024. Many major changes were made in the Banking Laws Amendment Bill 2024, one of which is the rule of linking four people to one bank account.
How is it beneficial for common people?
The Banking Laws Amendment Bill 2024 passed in the Lok Sabha will be beneficial for the common people. Four nominees can be added to the bank account. Not only this, there will be two ways to add a nominee, in which the first is that the bank account holders can add to give the share. The second is that the nominee can be kept in sequence, so that after one nominee gets the money, the second nominee, then the third and then the fourth nominee will get the money. Bank account holders can choose the option themselves to add a nominee.
