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'Nomination' for a deposit account in th...

'Nomination' for a deposit account in the bank means

A

mandate given by the close relative/s of the depositor to settle the death claim in case of death of the depositor.

B

mandate decided by the bank to settle the death claim of its depositor.

C

mandate of the depositor in favour of one or more persons to claim the amount on death of the depositor.

D

manadate of the depositor in favour of a close relative who can claim the amount on death of the depositor.

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Verified by Experts

The correct Answer is:
D
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