Section 47(1) in The National Housing Bank Act, 1987
(1)Notwithstanding anything contained in any other law for the time being in force, where a nomination in respect of any deposit, bond or other securities is made with the National Housing Bank in the prescribed manner, the amount due on such deposits, bonds or securities shall, on the death of the depositor or holder thereof, vest in, and be payable to, the nominee subject to any right, title or interest of any other person to such deposits, bonds or securities.]
