Bank customers can opt for up to four nominees in their accounts from Nov 1
The Banking Laws (Amendment) Act, 2025 was notified on April 15, 2025. It contains a total of 19 amendments across five legislations — the Reserve Bank of India Act, 1934, Banking Regulation Act, 1949, State Bank of India Act, 1955 and Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980.