The nomination to be made by the depositor or, as the case may be, all the depositors together in respect of a deposit held by the Bank to the credit of one or more individuals.

The said nomination may be made only in respect of a deposit, which is held in the individual capacity of the depositor and not in any representative capacity as the holder of an office or otherwise.

Where the nominee is a minor, the depositor(s) may appoint another individual (not a minor) to receive the amount on behalf of the nominee in the event of death during the minority of the nominee.

In the case of a deposit made in the name of a minor, the nomination shall be made by a person lawfully entitled to act on behalf of the minor.

The cancellation or variation of the said nomination must be made by the depositor or, as the case may be, all the depositors together.

The said nomination shall be made in favour of only one individual.

Nomination, cancellation, or variation may be made at any time during which the deposit is held by the Bank.

In joint deposits, cancellation or variation shall not be valid unless made by all surviving depositors at that time.

The Bank shall acknowledge in writing to the depositor(s) the filing of relevant duly completed forms.

Relevant duly completed Forms filed with the Bank shall be registered in the books of the Bank.