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Form DA 1 is used to nominate a person to receive bank deposits in the event of the depositor's death.
The form is governed by Section 45-ZA of the Banking Regulation Act, 1949, and the Banking Companies (Nomination) Rules, 1985.
The nomination facility is available for both individual and joint deposit accounts, with or without an 'Either or survivor' mandate.
If the nominee is a minor, a guardian must be appointed to receive the deposit on behalf of the nominee until they reach adulthood.
Attestation by two witnesses is required only if a thumb impression is used; signatures do not need to be witnessed.
An acknowledgment slip is provided by the bank upon receipt of Form DA 1, confirming the nomination details.