Is nominee mandatory for bank account

No, appointing a nominee for a bank account is not strictly mandatory, but it is highly recommended. According to RBI guidelines and the Banking Laws (Amendment) Act 2025:

• Banks must explicitly inform customers about the nomination facility and its benefits during account opening.
• If a customer chooses not to appoint a nominee, they must provide a written declaration confirming this decision.
• Banks cannot deny or delay opening an account if a customer refuses to make a nomination, provided other requirements are met.

Appointing a nominee ensures a hassle-free transfer of funds to your loved ones without lengthy legal procedures.