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flag India's RBI mandates all bank deposit accounts have nominations to streamline inheritance processes.

flag The Reserve Bank of India (RBI) has directed banks to ensure all new and existing deposit accounts and safety lockers have nominations. flag This aims to avoid delays and complications in transferring funds to family members upon a depositor's death. flag Banks must report progress quarterly via the DAKSH portal and are encouraged to promote the benefits of nominations through various media channels.

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