No Restrictions for LGBTQ Community in Bank Joint Accounts

The finance ministry clarified that members of the LGBTQ community face no restrictions in opening joint bank accounts or nominating partners. This follows a Supreme Court order and a Reserve Bank of India advisory, affirming inclusive banking practices for the queer community.

The finance ministry announced Thursday that LGBTQ individuals can open joint bank accounts and nominate partners as recipients without facing any restrictions.

The advisory, issued on August 28, follows a Supreme Court ruling from October 17, 2023, in the case of Supriyo@Supriya Chakraborty vs Union of India.

The Reserve Bank of India also instructed all scheduled commercial banks on August 21, 2024, to comply, reinforcing inclusive banking practices first mandated in 2015.

(With inputs from agencies.)