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When there is nomination as per section 45ZA of Banking Regulation Act 1949, the bank has to release the amount to the nominee and allowed ... bank is bound to release the amount to the nominee under section 45ZA of the Banking Regulation Act. The respondent also placed reliance on judgment

nomination form whereby Rajammal nominated the plaintiff as per Section 45ZA of the Banking Regulation Act, 1945 and Rule 2 (1) of the Banking Companies