Have you ever filled out a nomination form at your bank and wondered, "What's this successive or simultaneous nomination, and which one should I choose?" You're not alone. The RBI's latest rules, the Banking Companies (Nomination) Rules, 2025, let depositors name up to 4 individuals for FDs and RDs—either successively or simultaneously—to streamline inheritance. Effective November 1, 2025, these apply to deposits (with both options), while lockers and safe custody only successive option. Picture this: You've locked away an FD for your family's future. But what if you're gone—who gets it, hassle-free? Let's understand with a quick example. Say you're Ashok, 55, with a ₹10 lakh FD. You name your wife Mia as the successive nominee #1, daughter Pooja as #2, and son Shiv as #3. Successive nomination : Like a relay race. If Mia is alive, she becomes the owner - full control, interest, everything. If not, it passes to Pooja, then Shiv. C...
The Supreme Court, in Snidha Mehra vs Union of India (WRIT PETITION 732/2020 decided on 19.11.2025) , did not strike down section 15(1)(b) of the Hindu Succession Act, 1956. It refused to rule on the constitutional validity of that clause in this PIL (public interest litigation) and left the question open for a future case brought by directly affected parties. The petition was filed by a young woman lawyer who argued that where a married Hindu woman dies without a will, and leaves behind no husband or children, it is unfair that her property first goes to the “heirs of the husband” before her own parents. She pointed out that this is especially harsh when the woman’s property is self-acquired and her parents, who educated and supported her, are pushed down in the queue. The Court reproduced the existing legal position and kept it intact. In plain terms, when a Hindu woman dies intestate (without a will), her property goes in this order: § First – to her children (including child...