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

Section 45ZD: Notice of claims of other persons regarding articles not receivable

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45ZD — Notice of claims of other persons regarding articles not receivable. Protects banks from mere third-party notices regarding safe-custody articles in the manner specified, while preserving the effect of competent court orders and the statutory claim framework.

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 banks from mere third-party notices regarding safe-custody articles in the manner specified, while preserving the effect of competent court orders and the statutory claim framework.

Condition / limitation

How to read the provisionSection 45ZD: read the operative proposition with its defined terms and cross-references in the official Act.

Timing / amount / process

Boundary of the ruleDo not expand Section 45ZD by analogy; distinguish statutory text from stricter policy or later RBI requirements.

Professional application

Explain the safe-custody third-party-notice rule and court-order exception with a real operational example.

Evidence / working-paper checklist

  • Section 45ZD evidence: account/locker/safe-custody master record.
  • Section 45ZD evidence: nomination/cancellation/variation form and acknowledgement.
  • Section 45ZD evidence: identity/death/inventory/payment evidence for a claim.
  • Section 45ZD 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 45ZD, avoid treating a nominee as universal beneficial owner for all legal purposes.
  • For Section 45ZD, avoid using obsolete nomination forms after a rule change.
  • For Section 45ZD, 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 45ZD unless the official instrument says so.

Related sections inside the Act

Section 45ZB — Notice of claims of other persons regarding deposits not receivableSection 45ZC — Nomination for return of articles kept in safe custodySection 45ZE — Release of contents of safety lockersSection 45ZF — Notice of claims of other persons regarding safety lockers not receivable

Use these links to read Section 45ZD 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 45ZD 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 45ZD 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.