New Delhi, Oct. 23 -- The Central Government has notified that the provisions relating to nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from 1st November 2025.

The Amendment Act, initially notified on 15th April 2025, introduces 19 amendments across five legislations: the Reserve Bank of India Act, 1934, Banking Regulation Act, 1949, State Bank of India Act, 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1970 and 1980.

The sections coming into force from 1st November - Sections 10, 11, 12, and 13 - pertain to nomination facilities for deposit accounts, articles kept in safe custody, and safety locker contents maintained with banks.

Different provisions of the Act are bei...