LIC AAO Model Paper 5

Question : 71 of 160

Marks: +1, -0

‘Nomination’ for a deposit ac count in the bank means

Mandate given by the close relative/s of the depositor to settle the death claim in case of death of the depos itor.
Mandate decided by the bank to settle the death claim of its depositor
Mandate of the depositor in favour of one or more persons, to claim the amount on death of the depositor
Mandate of the depositor in favour of a close relative who can claim the amoun: on death of the depositor
Court order instructing the banks to settle the death claim of its depositor.

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