SBI Cancellation of existing Nomination in the account (Form DA -2)

Based on the document provided, here are the key points regarding the SBI Request for cancellation of Nomination (Form DA-2) for NRE, NRO, and FCNR(B) accounts:

Purpose and Legal Authority

• Objective: This form is used to officially cancel a previously made nomination for bank deposits.

• Regulatory Framework: The cancellation is governed by Section 45ZA of the Banking Regulation Act, 1949, and Rule 2(5) of the Banking Companies (Nomination) Rules, 1985.

Required Details

• Depositor Information: The form requires the full name and address of the depositor(s).

   

• Nominee Identification: The name of the original nominee being removed must be explicitly stated.

   

• Account Specifics: You must provide the type of deposit (NRE/NRO/FCNR), the account number, and any relevant additional details.

Execution and Verification

• Signatures: The request must be signed by the applicant(s).

   

• Witness Requirement: If the depositor uses a thumb impression instead of a signature, it must be attested by two witnesses who provide their names and addresses.

   

• Minors: If the account was opened in the name of a minor, the cancellation must be signed by the person lawfully entitled to act on that minor’s behalf.

Process for the Customer

• Acknowledgement: The bank provides a “Customer Acknowledgement Copy” at the bottom of the form, which includes the account number, holder’s name, and the date of receipt.

• Official Validation: To be valid for the customer’s records, this receipt must be signed by an authorized official and carry the branch seal and stamp.