Bank locker: The government has already made the rules of bank locker easy. The government has implemented a new rule on 16 April 2025, which will make the process of making a nominee for bank accounts and lockers easier. Now you can make not only one, but four people in your bank account.
There are 2 ways to make a nominee
Simultaneous (simultaneous) – In this, all four people get money in the already fixed part. For example, if you decided that A will get 40%, B 30%, C 20% and D will get 10%, then they will get money accordingly after you leave.
One after the other (successive) – In this, the first person will get money. If he is not or refuses to take money, then another person becomes entitled, then third and then fourth.
For bank locker or goods you have kept in the bank custody, only one nomination is valid only after another. In this too, four people can be made nominees in order. If you have not done any nomination and there is a contender after you, they will have to give documents like will, succession certificate. This work can be long and messy.
How to get old or forgotten money?
If you had deposited some money in the bank and it remained lying without any transaction for 10 years, then it will now go to RBI’s Dea Fund. But don’t panic, you can withdraw this money from your bank at any time.
If you had invested money in the bond of a company and not taken for 7 years, then that money and interest on it will go to the IEPF fund. Similarly, if a dividend is not taken for 7 years, then it also goes to IEPF. Therefore, it is advisable to do nomination for your bank account and locker now, so that after you leave your loved ones do not have any problem.
ITR Filing 2025: It will be difficult to file returns without these essential documents, do it from now on