Ministry of Finance has issued the Banking Companies (Nomination) Rules 2025 to streamline the process of nominating individuals for bank deposits, articles in safe custody, and safety lockers. Depositors may nominate up to four individuals, either successively or simultaneously, using a prescribed form or through an electronic mode if the bank provides e-nomination facilities. The rules also provide for appointment of a guardian if a nominee is a minor and allow extending an existing nomination to other accounts within the same bank upon request.