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News India Live, Digital Desk : New RBI Rules : We all have a bank account in which we keep our hard-earned money safe. But have you ever thought that if something happens to us tomorrow, what will happen to this money? How will our family get this money? To address this biggest concern, the Reserve Bank of India (RBI) November 1, 2025 A new and very important rule is going to be implemented.
This rule is directly related to adding ‘Nominee’ i.e. heir in the bank accounts, and its purpose is to save your family from big problems in future.
What is this new rule after all?
Till now, it was your choice to add a nominee or not while opening a bank account. The bank employees used to ask you once, but after that there was no follow-up.
But November 1st From this, RBI has directed all the banks to remind their customers to add nominee from time to time. Now banks will inform you through message, email or other means that if the name of the nominee is not registered in your account, FD, RD or locker, then you should register it immediately. This rule will be applicable to all new and old customers.
Why was this rule needed? (the biggest reason)
The reason behind this rule is very serious. Today in Indian banks thousands of crores of rupees There are those who have no claimant. This money belongs to those account holders who have died and had not registered the name of any nominee in their account.
In such a situation, their family members have to run from pillar to post to get this money. They have to produce will, inheritance certificate and many other legal documents. This process is so long and complicated that many times the family members get tired and give up the money. RBI has taken this step to eliminate the problem of ‘unclaimed deposits’.
Why is the nominee so important?
Many people remain confused about the nominee. The nominee does not become the ‘owner’ of your money, rather he is a ‘trustee’ or ‘caretaker’. This means:
- After your death, the bank easily hands over all the money to the nominee.
- It is the responsibility of the nominee to distribute the money correctly among all your legal heirs (like wife, children, parents).
- Being a nominee frees the family from lengthy and expensive legal processes.
How to add nominee name to your account?
This work is very easy and takes less than 5 minutes.
- By going to the bank: You can go to your bank branch and fill a small form.
- Online: Most banks now provide the facility to add nominee through net banking or their mobile app.
You just have to provide the nominee’s name, date of birth, address and his/her relationship with you.
This is a small step, but it gives your family the greatest financial and mental security in your absence. So, don’t wait for 1st November, check today whether your nominee’s name is mentioned in all your bank accounts and investments