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Bank Nomination Rules Changed: Up to 4 Nominees — What JAIIB Aspirants Must Know

By Swarnakshi Jha (ex-banker) · 22 August 2026 · JAIIB Nov-2026 cycle

For decades, the standard banking-exam answer was reflexive: "A deposit account can have one nominee." Since 1 November 2025, that answer is wrong.

What changed

The Banking Laws (Amendment) Act, 2025 rewrote the nomination framework for bank customers. The headline change: depositors can now appoint up to four nominees for their deposit accounts.

For deposits, nomination can be simultaneous — multiple nominees at once, each with a specified percentage share — or successive — nominees in a sequence, where the next nominee steps in only if the earlier one predeceases.
For articles in safe custody and lockers, nomination is successive only — one effective nominee at a time.

Why this is prime JAIIB material

Nomination sits squarely in PPB (Principles & Practices of Banking) — general banking operations — and it is exactly the kind of change examiners love: a crisp, factual rule with a memorable number that changed recently. Expect it framed as:

"Under the Banking Laws (Amendment) Act 2025, the maximum number of nominees for a bank deposit is—" — four.
"Simultaneous nomination with percentage shares is permitted for—" — deposits (not lockers).
"For safe-custody articles and lockers, nomination is—" — successive only.

Trap to avoid: older question banks and many 2024-print notes still carry "one nominee" as the correct option. If you practise from them unpatched, you are rehearsing the wrong reflex for 22 November 2026 (the PPB paper date).

The pattern behind the question

This change, like GST 2.0 and the MSME revision, follows the same exam logic: recent + numerical + operationally relevant = highly examinable. Every one of our PPB notes, mocks and revision booklets flags this drift with both the old textbook position and the current law, so you can answer either way the question is framed.

📚 Preparing for JAIIB Nov-2026? All 25 of our books are audited line-by-line against the July-2026 rulebook — every drift like this one is flagged with both positions. PDF Study Pack · All-Access Bundle · Mock Centre · free 10-question test · 86 free sample pages.

Independent study aid — not affiliated with, endorsed by, or sponsored by IIBF. Exam pattern, dates and passing criteria are set by IIBF — always confirm current rules at iibf.org.in. Regulatory figures verified as of July 2026; verify from official sources (rbi.org.in) before relying on them in practice.