New Delhi, Aug. 26 -- - Name withheld on request

For most ordinary families in India, basic estate planning starts at the local bank branch. However, until recently, families faced a frustrating, decades-old hurdle: the single-nominee limit.

If a parent wanted to divide their life savings or family gold kept in a bank locker among their children, they couldn't do it in a single form. They were forced to open separate bank accounts or hire multiple safety lockers just to name different nominees. If they didn't, and the sole nominee passed away first, the family members had to run from pillar to post and face administrative delays to access the funds.

The Banking Laws (Amendment) Act, 2025, which came into force on 1 November 2025, appea...