TOPIC 25: QUICK REFERENCE TO “Nomination facility availability to Depositors of NBFC”

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Quick Reference to " Nomination facility availability to Depositors of NBFC "


Points:-

1. Nomination facility is available to Depositors of NBFCs.

2. It deals with section 45QB of RBI act, 1934.

3. Depositors of NBFCs are allowed/ Permitted to Nominate 1 Person to whom NBFC will give/ return that amount of Deposit in the event of Death of Depositors.

4. Forms:-

DA 1 :- Nomination Form.
DA-2 :- Cancellation of Nomination.
DA-3 :- Change of Nominee.

5. NBFCs can adopt Banking Companies (Nomination) Rules, 1985 .


Regards
ACA SOURAV BAGARIA