SBI Request for Nomination in the account (Form DA -1)

Based on the document provided, here are the key points regarding the SBI Request for Nomination (Form DA – 1) for NRE, NRO, and FCNR (B) accounts:

Purpose and Legal Framework

• Legal Basis: The form is used for making a nomination under Section 45ZA of the Banking Regulation Act, 1949, and Rule 2(1) of the Banking Companies (Nomination) Rules, 1985.

• Function: It allows account holders to nominate a person to whom the bank can return the deposit amount in the event of the depositor’s (or minor’s) death.

Required Information

• Depositor Details: The name and address of the depositor(s) and the specific SBI branch where the deposit is held must be provided.

• Deposit Details: The form requires the type of deposit, the account number, and any relevant additional details.

   

• Nominee Details: You must provide the nominee’s name, address (including city, state, pin, and country), relationship to the depositor, and date of birth.

   

Special Conditions

• Minor Nominees: If the nominee is a minor, the depositor must appoint a separate individual (including their name, age, and address) to receive the deposit on the minor’s behalf should the depositor die while the nominee is still a minor.

   

• Minor Depositors: If the deposit itself is in the name of a minor, the nomination form must be signed by a person lawfully entitled to act on the minor’s behalf.

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

Acknowledgement

• Receipt: The form includes a “Customer Acknowledgement Copy” which the bank official should seal, stamp, and sign to confirm receipt of the request.