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This refers to the report on the RBI directive advising banks to indicate the names of nominees in bank passbooks/deposit receipts (BusinessLine, March 11).

It would be desirable to introduce a practice of also advising the nominees concerned at the time of nomination, or any change in nomination, as long as customers have no specific objection in the matter.

Where this is done, banks should also make it a practice to empower nominees to transact business in cases where the accounts remain inoperative beyond reasonable periods, lockers remain unopened for unreasonably long periods, FDs remain unclaimed or not renewed on time, the account-holder does not respond to important communications, and so on.

M. G. Warrier Thiruvananthapuram

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