IDBI Bank Annexure 4 – Form for nomination, cancellation & variation of nominations in respect of Articles in Safe Custody
IDBI Bank Annexure 4 – Form for nomination, cancellation & variation of nominations in respect of Articles in Safe Custody Download
The key points of the IDBI Bank Annexure-IV Nomination Form for Articles in Safe Custody are structured below:
📋 Purpose of the Form
This form is strictly used for making, cancelling, or varying a nomination regarding articles left in safe custody (ANNEXURE-I… p. 1). It is explicitly designed “Only for Individuals” operating a single/sole custody account (ANNEXURE-I… p. 1).
1. Bank & Customer Details
- Account Type: Applies only to an individual customer leaving specific articles in the bank’s safe custody (ANNEXURE-I… p. 1).
- Key Identifiers: Mandates entering Branch Name, Sol ID, Customer ID, Name of the individual, Nature of Articles, and a Distinguishing Number (ANNEXURE-I… p. 1).
2. Successive Nomination Rules (Critical Feature)
- Priority Sequence: You can name up to four nominees, but they operate strictly in a successive order of priority (ANNEXURE-I… p. 1). The sequence matches the order in which the names are written (First to Fourth nominee) (ANNEXURE-I… p. 1).
- Activation Trigger: A nominee lower in the sequence only becomes eligible to receive the articles if all nominees higher in the priority order have passed away (ANNEXURE-I… p. 2).
- Claim Condition: Nominees can only claim items in the event of the bank customer’s death (ANNEXURE-I… p. 1).
3. Cancellation and Variation Policy
- Automatic Overwrite: Signing this form automatically acts as a total supersession and cancellation of all previous nominations made for these specific safe custody articles (ANNEXURE-I… p. 2).
4. Minor Nominee & Minor Hirer Provisions
- Guardian Mandate: If a designated nominee is a minor, the hirer must provide a Guardian’s Name, Address, Relationship, and Contact info (ANNEXURE-I… p. 2). The guardian receives the assets if the hirer passes away while the nominee is still a minor.
- Minor Accounts: If the safe custody article is registered in a minor’s name, a legally entitled adult must sign the form on the minor’s behalf (ANNEXURE-I… p. 2).
5. Signatures & Witness Rules
- Single Hirer Signature: Requires the signature of the sole individual account holder (ANNEXURE-I… p. 2).
- Illiterate Account Holders: If the customer cannot read or write, a thumb impression is required (ANNEXURE-I… p. 2). This impression must be verified by two independent witnesses who provide their names, signatures, addresses, dates, and locations (ANNEXURE-I… p. 2).
💼 For Bank Official Use Only
The bottom receipt serves as the bank’s internal acknowledgment (ANNEXURE-I… p. 1). An official must verify the form, sign it, provide their employee details, stamp it, and explicitly mark whether the nomination has been successfully updated in the Core Banking System (CBS) (ANNEXURE-I… p. 1).
If you want, I can:
- Provide a checklist of valid documents needed for witness verification
- Explain how to cancel a nomination without adding a new one
- Detail the process for changing a minor nominee’s guardian
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