A new bill, expected to be introduced in Parliament's winter session, seeks to amend bank nomination laws, allowing up to four nominees for fixed deposits (FDs) to ease the distribution of funds after the account holder’s death. The bill would offer two nomination options: simultaneous, where nominees receive specified shares, and successive, where one nominee replaces another upon death.
from Banking/Finance-Industry-Economic Times https://ift.tt/IagTKJb
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