SBI Change in existing Nomination in the account (Form DA -3)

Based on the document provided, here are the key points regarding the SBI Request for change in Nomination (Form DA-3) for NRE, NRO, and FCNR (B) accounts:

Purpose and Legal Authority

• Objective: This form is used for the variation of a nomination, effectively cancelling a previous nominee and replacing them with a new one.

• Regulatory Basis: It is governed by Section 45ZA of the Banking Regulation Act, 1949, and Rule 2(6) of the Banking Companies (Nomination) Rules, 1985.

Required Information

• Depositor and Branch: The form requires the full name and address of the depositor(s) and the specific branch where the deposit is maintained.

• Old and New Nominee: The user must explicitly name the original nominee being cancelled and provide comprehensive details for the new nominee, including their name, address, relationship to the depositor, and date of birth.

   

• Deposit Specifics: The account holder must specify the type of deposit (NRE, NRO, or FCNR) and the corresponding account number.

Handling Minors

• Minor Nominee: If the new nominee is a minor, the depositor must appoint an individual (providing their name, age, and address) to receive the funds on the minor’s behalf if the depositor dies while the nominee is still underage.

   

• Minor Depositor: If the account holder is a minor, the form must be signed by the person legally authorized to act on their behalf.

   

Execution Requirements

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

• Official Confirmation: The “Customer Acknowledgement Copy” at the bottom should be signed by an authorized official and include the branch seal and stamp to serve as proof of submission.