The Government of India, Ministry of Finance, Department of Financial Services issued an advisory on August 28, 2024, clarifying that based on the Supreme Court of India's judgement dated October 17, 2023, in the case of Supriyo @Supriya Chakraborty and another Vs. Union of India (Writ Petition Civil No. 1011/2022), there are no restrictions for persons of the Queer community to open a joint bank account. They can also nominate a person in a queer relationship as a nominee to receive the balance in the account in the event of the account holder's death. The Reserve Bank of India (RBI) has also issued a clarification to all the Scheduled Commercial Banks on August 21, 2024, regarding this matter. This advisory is addressed to all stakeholders. The issuing authority is Arun Kumar, Under Secretary to the Government of India. The document number is F. No. 6/8/2024-Welfare, and the office is located in Jeevan Deep Building, Sansad Marg, New Delhi.
Key Entities Referenced
Supreme Court of India: India's highest court, whose judgement on 17.10.2023 is referenced in the advisory.
Supriyo @Supriya Chakraborty and another Vs. Union of India (Writ Petition Civil No. 1011/2022): The specific Supreme Court case that prompted the advisory regarding the rights of the Queer community.
Reserve Bank of India (RBI): The central bank of India, that issued clarification regarding opening of joint bank account for queer community.
Ministry of Finance: The ministry responsible for issuing the advisory related to banking rights.
Queer community: The beneficiary group of the advisory regarding banking rights.
F. No. 6/8/2024-Welfare
Government of India
Ministry of Finance
Department of Financial Services
*****
Jeevan Deep Building, Sansad Marg, New Delhi
the 28th August, 2024
Advisory
In connection with Hon’ble Supreme Court of India’s judgement dated
17.10.2023 in the case of Supriyo @Supriya Chakraborty and another Vs. Union of
India (Writ Petition Civil No. 1011/2022), this is to clarify that there are no
restrictions for persons of the Queer community to open a joint bank account and
also to nominate a person in queer relationship as a nominee to receive the balance
in the account, in the event of death of the account holder. A clarification in this
regard has also been issued by the Reserve Bank of India (RBI) to all the Scheduled
Commercial Banks on 21.08.2024.
(Arun Kumar)
Under Secretary to the Government of India
To
All Stakeholders