RESERVE BANK OF INDIA (SETTLEMENT OF CLAIMS IN RESPECT OF DECEASED CUSTOMERS OF BANKS) DIRECTIONS, 2025SL. NO.NOTIFICATION/ CIRCULAR NO.DATESUBJECT1.29/03/19852.29/03/19853.09/06/20054.12/07/20055.14/07/20056.19/07/20057.02/05/20088.12/05/20089.14/05/200810.12/09/200811.21/01/201312.03/09/201313.05/09/201314.10/09/201315.10/09/201316.18/08/2021

MUMBAI, India, Sept. 26 -- Reserve Bank of India issued the following notification:

RBI/2025-26/82

DoR.MCS.REC.50/01.01.003/2025-26

September 26, 2025

Reserve Bank of India (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025

I. Introduction

The nomination facility in deposit accounts, safe deposit lockers and articles in safe custody under the provisions of Sections 45ZA to ZF of the Banking Regulation Act, 1949 read with Section 56 of the Act ibid is intended to facilitate expeditious settlement of claims by banks upon death of a deceased customer and to minimise hardship caused to the family members. Further, in cases where nomination is not registered, the extant instructions require banks to adopt a s...