Headline
The Central Government shed light on LGBTQIA+ Rights on opening of joint bank accounts and nominee designations.
Summary
Following a recent Supreme Court ruling,The Central government issued an advisory declaring that LGBTQIA+ individuals can now open joint bank accounts and make their partners as nominees.
Key Facts
- Case Name: Supriyo @ Supriya Chakraborty & Anr v. Union of India
- Judgment Date: 17 th October, 2023
- Name of Judges: Chief Justice D.Y. Chandrachud, Justice S.K. Kaul, Justice S. Ravindra Bhat,Justice Hima Kohli and Justice P.S. Narasimha
- The Finance Ministry issued an advisory on 28 th August, 2024
Legal Insights
The Supreme Court of India recognised the requirement for legal recognition of queer relationships, ordering the Central Government to make possible for the LGBTQIA+ couples the joint banking and nominee rights
Impact
The advisory makes sure that individuals in LGBTQIA+ relationships are also allowed to the same banking benefits as heterosexual couples, encouraging financial inclusivity.
Why it Matters
It’s a remarkable step toward financial and legal equality for the LGBTQIA+ community, acknowledging and protecting their rights within the financial system.
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