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of <h1>Pradhan Mantri Garib Kalyan Deposit Scheme 2016: Nomination Rules for Bonds Ledger Account Explained</h1> Under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016, a sole holder of a Bonds Ledger Account can nominate individuals to receive the account and its payments upon their death. If multiple nominees exist and one dies before payment, the surviving nominees inherit the title. The holder can update or cancel nominations by notifying the authorized bank. All changes must be registered with the Reserve Bank of India to be effective. If a nominee is a minor, the account holder can appoint a person to receive the account or payments on behalf of the minor in the event of the holder's death.
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