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Home › Indian Laws › Banking Regulation Act, 1949 › Section 45ZB
Banking Regulation Act, 1949 · Section guide

Section 45ZB: Notice of claims of other persons regarding deposits not receivable

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45ZB — Notice of claims of other persons regarding deposits not receivable. Protects a bank from being compelled to recognise third-party claims to a deposit merely by notice where payment to the survivor/nominee is protected by the section; court orders and the statutory exceptions remain controlling.

Official statute linkedProvision-specific anatomyPractical case + evidence file
Official text: DFS consolidated Act

Statutory structure and provision map

This map is a provision-specific explanation, not a substitute for the exact statutory text.

Core statutory rule

Protects a bank from being compelled to recognise third-party claims to a deposit merely by notice where payment to the survivor/nominee is protected by the section.

Condition / limitation

court orders and the statutory exceptions remain controlling.

Source and effective-date control

Apply the wording of Section 45ZB that was in force on the event date; use the official Act and any applicable commencement/amending instrument linked on this page.

Professional application

Explain non-receipt of third-party notices and the court-order proviso; distinguish nominee payment from beneficial succession rights.

Evidence / working-paper checklist

  • Section 45ZB evidence: account/locker/safe-custody master record.
  • Section 45ZB evidence: nomination/cancellation/variation form and acknowledgement.
  • Section 45ZB evidence: identity/death/inventory/payment evidence for a claim.
  • Section 45ZB evidence: record-retention or claim-processing evidence under the current Rules.

Retain the event date and source version with the file so the conclusion remains reproducible after later amendments.

Common mistakes to avoid

  • For Section 45ZB, avoid treating a nominee as universal beneficial owner for all legal purposes.
  • For Section 45ZB, avoid using obsolete nomination forms after a rule change.
  • For Section 45ZB, avoid processing a death claim without preserving identity, death and inventory/payment evidence.

Linked Rules, RBI directions, notifications and forms

Linked instruments keep their own legal basis; they are not attributed to Section 45ZB unless the official instrument says so.

Related sections inside the Act

Section 45Z — Return of paid instruments to customersSection 45ZA — Nomination for payment of depositors’ moneySection 45ZC — Nomination for return of articles kept in safe custodySection 45ZD — Notice of claims of other persons regarding articles not receivable

Use these links to read Section 45ZB in its statutory sequence, especially where the provision imports definitions, approvals, appeals, penalties or winding-up consequences from neighbouring sections.

Current-law source control

Source control: Section 45ZB is anchored to the official DFS consolidated text; later changes require separate Gazette verification.

Dated matters: verify any later Gazette, RBI direction or binding judgment affecting Section 45ZB on the event date.

Disclaimer

This Finin2min page is an educational and professional reference. Banking regulation is fact-, entity- and date-sensitive. Verify the current Act, Gazette amendments and commencement notifications, applicable RBI Rules/directions and the transaction record before acting or filing.