Empowering Victory: No Restrictions for Queer Community to Open Joint Bank Accounts, Announces Finance Ministry

The Finance Ministry has clarified that members of the Queer community are entitled to open joint bank accounts and designate individuals in queer relationships as their nominees without any restrictions. This announcement was made through an advisory issued by the Department of Financial Services of the Ministry.

The advisory was released following the Supreme Court’s verdict on October 17, 2023, in the case of Supriya Chakraborty and another versus the Union of India. The advisory highlights that nominees in queer relationships can legally receive account balances in the event of the account holder’s death.

This move recognizes the financial rights of the Queer community, ensuring their ability to manage their finances and designate beneficiaries without discrimination.

Original Story https://www.newsonair.gov.in/no-restrictions-for-persons-of-queer-community-to-open-a-joint-bank-account-finance-ministry/
Category : National
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