There are no restrictions for people from the queer community to open a joint bank account and appoint a person in a queer relationship as their authorized representative, according to the Ministry of Finance.
The recommendation comes in the context of the Supreme Court’s judgment of October 17, 2023 in Supriya Chakraborty and one other person v. Union of India (Civil Petition No. 1011/2022).
The Ministry of Finance said on Thursday that there are no restrictions on members of the queer community opening a joint bank account and naming a person in a queer relationship as their authorized representative.
The recommendation comes in the context of the Supreme Court’s judgment of October 17, 2023 in Supriya Chakraborty and one other person v. Union of India (Civil Petition No. 1011/2022).
“This is to clarify that there are no restrictions for people from the queer community to open a joint bank account and also to name a person in a queer relationship as the beneficiary who will receive the account balance in the event of the account holder’s death,” the Financial Services Department, which is under the Ministry of Finance, said in a statement.
A clarification in this regard was also issued by the Reserve Bank of India (RBI) to all Scheduled Commercial Banks on August 21, 2024.