New bank account nomination rules 2025: Has RBI made it mandatory? Check what the latest rule says
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The Reserve Bank of India has mandated banks to inform customers about nomination facilities when opening accounts, lockers, or safe custody services. Effective November 1, 2025, this move aims to simplify fund transfers after a depositor's death. While nomination remains optional, customers must provide a written declaration if they opt out. What's Your Reaction?
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