Top News

Bank New Rules: This information is very important to you for your bank account and locker. From November 1, there are going to be major changes in the rules of the bank which will directly affect your pocket and banking facilities.

Since November 1, 2025, new banking regulations are coming into effect, under which account holders can nominate up to four nominees to their bank accounts. Earlier this limit was up to two, now having four nominees will enable the individual to have more control over his funds and assets. This step has been taken with the aim of making the claim settlement process more transparent, easy and streamlined.

Provision of email and phone numbers

According to the new rules, it will now be mandatory for banks to record the email ID and mobile number of the nominee. This change is taking place to make bank account holders' funds secure and ensure quick claim settlement in case of any emergency. This will also increase accountability in the banking system and establish a check of information.

Purpose of the rule

Banks will now be allowed to add up to four nominees under the Banking Laws (Amendment) Act, 2025, with their details such as email and phone numbers being sought. Additionally, this rule will serve the purpose of settling claims in banks promptly and transparently. The Reserve Bank of India has given instructions in this direction that these rules will be implemented before 2025.

The new system will provide more options and security

Bank account holders can now give the right to their deposits to their family, friends or any trusted person. With this, if any unauthorized claim or dispute occurs in the account, it will be resolved quickly. This step is especially helpful for account holders who have multiple bank accounts or who want to keep their funds safe.

These rules, which will come into effect from 1 November, are aimed at ensuring greater transparency, accountability and security in the banking sector. Customers can now avail more options, controls and security for their account and assets. The facility to add a maximum of four nominees will strengthen their financial planning and reduce the possibility of disputes in future.

PC: Moneycontrol