You can now have multiple nominees for your bank account
Starting November 1, 2025, the Reserve Bank of India is letting you nominate up to four people for your bank accounts and lockers—no more sticking to just one.
For bank accounts, you can split things equally among nominees (simultaneous nomination) or set an order for who gets what if something happens (successive nomination).
For lockers, only successive nominations are allowed.
What's the big deal?
It's now simpler and faster for your money or stuff in a locker to reach the right people if anything happens to you.
The rules cover all types of accounts, and banks have to process nominations within three days.
Plus, if you don't want a nominee, you can say so without slowing down account opening.
This move aims to cut legal hassles and give everyone more control over their assets.