GSPR 2018 About Nomination in Post Offices

As per GSPR - Government Savings Promotion General Rules 2018

Nomination:

• Nomination is mandatory for all types of accounts.
• Maximum four individuals can be nominated.
• If nominee is a minor, the depositor to authorize an appointee.
• Nomination can be varied by the depositor any time before the maturity of the account.

Nomination stands cancelled on:

i. death of all the nominee,

ii. transfer of the account as security (pledging)

If depositor is illiterate, attestation by two witnesses is required while making/altering nomination. No witness is necessary for literate depositors.