The Banking Companies (Nomination) Rules, 1985 – Clarifications

 RBI/2011-12/469

DBOD.No. Leg.BC. 89/ 09.07.005/2011-12

March 26, 2012

All Scheduled Commercial Banks 

(Excluding RRBs)

Dear Sir,

The Banking Companies (Nomination) Rules, 1985 – Clarifications

Please refer to para 1 of our Circular DBOD.No.Leg.BC.83/09.07.005/2010-11 dated March 30, 2011 on the captioned issue wherein we have clarified that signatures of the account holders in forms DA1, DA2 and DA3 need not be attested by witnesses.

2. In this connection, certain queries were received from banks and we further clarify that for the various Forms (DA1, DA2 and DA3 for Bank Deposits, Forms SC1, SC2 and SC3 for Articles left in Safe Custody, Forms SL1, SL1A, SL2, SL3 and SL3A for Safety Lockers) prescribed under Banking Companies Nomination Rules, 1985 only Thumb-impressions(s) shall be attested by two witnesses. Signatures of the account holders need not be attested by witnesses.

3. Banks are advised to ensure strict compliance of the instructions as per the clarification given above.

Yours faithfully,

(Deepak Singhal)

Chief General Manager-In-Charge