Mumbai, July 29: Reserve Bank of India has permitted non-banking finance companies (NBFCs) to offer nominations to its depositors under the Banking Companies (Nomination) Rules, 1985. NBFCs can accept nominations made by depositors in form da1, cancellation in form da2 and variation in form DA3, RBI said in a release here today.
The depositor/s of NBFC may nominate one person to whom the entity can return the deposit in the event of death, it added.
Bureau Report