question_answer

'Nomination' for a deposit account in the bank means Mandate given by the close relative/s of the depositor.

A)  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)  Mandate of the depositor in favour of a close relative who can claim the amount on death of the depositor.

E)  Court order instructing the banks to settle the death claim of its depositor.