Nomination by depositor governs entitlement to deposit account balances on death, subject to registration and nomination limits. A depositor may nominate up to three persons in Form E to receive amounts in account-A or account-B on the depositor's death; nominations are prohibited for accounts of minors, HUFs, firms, companies, associations, or bodies. Nominations, cancellations or variations must be registered to be effective and entered in the pass book or deposit receipt. If nominee is a minor, an appointee may receive the amount during minority. Multiple nominees confer entitlement to the first-named, with succession to subsequently named nominees if earlier nominees predecease the depositor, subject to proof of deaths.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nomination by depositor governs entitlement to deposit account balances on death, subject to registration and nomination limits.
A depositor may nominate up to three persons in Form E to receive amounts in account-A or account-B on the depositor's death; nominations are prohibited for accounts of minors, HUFs, firms, companies, associations, or bodies. Nominations, cancellations or variations must be registered to be effective and entered in the pass book or deposit receipt. If nominee is a minor, an appointee may receive the amount during minority. Multiple nominees confer entitlement to the first-named, with succession to subsequently named nominees if earlier nominees predecease the depositor, subject to proof of deaths.
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