Nomination.- (1)A Depositor in a Single Account, or the depositors in a joint account, as the case may be, shall nominate one or more individuals as nominee but not exceeding four individuals, who in the event of the death of the depositor in a Single Account or all the depositors in a joint account, shall be entitled to receive the eligible balance. Such nomination shall be made at the time of opening of the account by furnishing the following information in Form 10:

(a)    Name(s) of the nominee(s);

(b)    Percentage share each nominee shall be entitled to;

(c)    Whether the nominee shall receive the amount as a beneficiary with absolute and exclusive right of ownership, or as a trustee for the benefit of the legal heirs of depositor.

(2)  Where the nominee is a minor, the depositors making the nomination, by furnishing the necessary particulars in Form 10, shall appoint an individual to receive payment of the eligible balance in the event of the death of the depositor during the minority of the nominee.

(3)  The nomination made under sub-rule (1) may be varied by the depositors by making a fresh application in Form 10, together with the Passbook, to the Accounts Office any time before the maturity of the account. The depositor has to submit fresh identity proof along with Form 10.

(4) In case of accounts, except those in the name of a minor or a person of unsound mind, opened before the 1^st April 2018, and where no nomination has been made, the depositor shall do so immediately and in any case before the maturity of the account.

(5)  In case of an account opened by a minor or on behalf of a minor or a person of unsound mind, as the case may be, the nomination shall be made by the guardian, who may nominate any individual, including himself in this regard:

Provided that in respect of such accounts opened before the 1^st April 2018, no nomination shall be allowed and in the event of the death of the depositor, the eligible amount shall be paid to the guardian.

(6)  Any nomination made under sub-rule (1) shall stand cancelled under the following circumstances namely:-

(i)    death of all the nominee;

(ii)   transfer of the account as security under rule 16; 

(7)   A fresh nomination shall be required to be made under the circumstances enumerated in sub-rule (6).

(8)    The thumb impression of an illiterate depositor at the time of making nomination under sub-rules (1) and (7), or altering the nomination in terms of sub-rule (3), shall be attested by two witnesses. No witness shall be required in case of a literate depositor for the purpose.

(11). A nomination made by a depositor under sub-rule (1) may be changed by the depositor. A prescribed fee shall be chargeable on every application for registration of a nomination or  any variation in nomination provided that no fee shall be charged  for registration of the first nomination. Whenever depositor desires to change a nomination he should fill in the prescribed form of application (Form 10) and present the same along with the passbook with the prescribed fee. The application will be verified in the same manner as an original application for nomination. In the account modification menu, the counter PA has to enter the nomination details with reference to the Form 10 and supervisor has to approve the same.

(12). In case of change, a rubber stamp “Nomination altered under No......... on (date)......” should be affixed on (i) the original application in form (SB-3)/SB- AOF/application for nomination (Form 10) (ii) the passbook. In the account modification menu, the counter PA has to enter the new nomination details with reference to the Form 10 and supervisor has to approve the same and the new nomination registration number to be entered in the passbook manually.

(13). The fee prescribed for change of nomination shall be collected in form of cash or shall be debited from Post Office Savings Account through HGCHRG menu in Finacle.

(14). The application for nomination (Form 10) will be kept in a guard file. The application for change (Form 10) should be filed in the guard file along with original application for nomination or application form (SB-AOF).

Note: -If for any reason the application for nomination or change in nomination given by the depositor is not accepted, he should be informed in writing the reasons for non-acceptance.

(15). When a depositor makes a nomination changes the nomination already made, using (Form 10) at the sub office, the Sub Postmaster will make change/ alter the nomination using Account Modification Menu in Finacle. Sub Postmaster will keep Form 10 in the guard file in SO.

(16). For an account standing at a Branch Office, the Branch Postmaster will send the Form 10 to the Account office along with Passbook to Account Office. The Account office will deal with it as it would have tendered at the Account Office. First Page of Passbook should be printed again from Passbook Printer showing Nomination as “Y” and return the passbook to the Branch Post Office for delivery to the depositor.

(17). When an account is transferred from one SOL ID to another SOL ID, there will not be any change in already registered nomination details.

Note: Registration of Nomination or Change of Nomination shall be done only at the post office where the account stands.

Amendment : SB Order No. 16/2023: