National, October 10 2026: Across India’s rural and semi‑urban landscape, Business Correspondents (BCs) have taken up a critical challenge—ensuring that millions of Basic Savings Bank Deposit (BSBD) account holders update their nomination details. The implementation aims to provide depositors the flexibility to make nominations as per their preference, while ensuring uniformity, transparency, and efficiency in claim settlement across the banking system.
The campaign comes at a crucial time. As of 31 August 2026, nomination updation remains pending estimated in about 37% of BSBD accounts. A significant proportion of these accounts estimated at 78% are located in rural & semi-urban areas and 56% accounts are owned by Women, with limited financial literacy, migration, and lack of awareness about basic banking safeguards.
SBI has also launched a campaign this month to update nominations in 6.90 crore BSBD accounts, out of 18.62 crore eligible accounts, where the process is still pending. Around 55–60% of these accounts are in rural areas.
With this backdrop, BCs across the country have mobilised their Customer Service Points (CSPs) to reach out to customers, explain the importance of nomination, and update details in the Core Banking System (CBS). Early trends indicate that BCs have already begun updating nominee details for lakhs of accounts, with daily monitoring and field‑level reviews ensuring momentum throughout the campaign period.
This drive is not only about compliance it is about strengthening customer trust, and ensuring that rural households remain connected to the formal banking system. By guiding customers through the nomination process, BCs are helping transform inactive accounts into active, secure financial assets.
Ashish Misra, Deputy CEO, BLS E‑Services, said: “Our BCs have embraced this challenge with remarkable commitment. In rural India, many customers are unaware of essential processes like nomination. Through this campaign, we are not just updating records, we are educating families, strengthening financial security, promote customer convenience, and ensuring that every account holder understands the value of keeping their account active and future-ready.”
Mr. Dharanidhar Tripathy, Managing Director, Business Correspondent Resource Council (BCRC), said: “Nomination is a fundamental protection for every customer, especially in rural communities where financial literacy is still developing. This coordinated effort by BCs is helping bridge that gap. This is a significant step towards building a more informed and financially resilient rural India.”
Through this campaign, BCs supported institutionally by SBI and BLS E‑Services are helping ensure that every BSBD account holder has a nominated beneficiary and understands the importance of maintaining an active account. The initiative is expected to substantially improve the quality of financial inclusion across the country.