New bank account, locker rules soon? Banking Amendment Bill allows up to 4 nominees - check what’s about to change

Quick Summary:

The Lok Sabha approved a bill allowing bank account and locker holders to designate up to four nominees.

This change simplifies asset distribution after death.

The bill awaits Rajya Sabha approval and presidential assent for implementation.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaAustraliaIsrael

Topics: Business news Bank account nominees Bank fixed deposit nominees Lok Sabha passes Banking Bill Bank locker rules Bank locker nominees Banking Laws Amendment Bill

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 16:00:51 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 780 words

Reading Time: 5 minutes read

Sentences: 36 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24371646

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 14 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 4 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #28

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