LGBTQ Individuals Can Now Open Joint Bank Accounts and Nominate Partners

In a significant move for the LGBTQ community, the Union Finance Ministry has announced that there are no restrictions on opening a joint bank account or nominating someone in a queer relationship as a nominee. This update follows a Supreme Court order from October 17 of last year in the case of Supriyo@Supriya Chakraborty vs Union of India.

What the Finance Ministry’s Advisory States

The Finance Ministry’s advisory clarifies that:

• People in queer relationships can now open joint bank accounts without any restrictions.
• Individuals can nominate a person in a queer relationship to receive the balance of the account if the account holder passes away.

This advisory also notes that the Reserve Bank of India (RBI) had earlier addressed this issue by informing all commercial banks on August 21. Back in 2015, the RBI had instructed banks to include a ‘third gender’ option in their forms to assist transgender individuals in opening bank accounts and accessing banking services.

Supreme Court’s Stance on Same-Sex Marriage

The Supreme Court has ruled that the legalisation of same-sex marriages is a matter for Parliament to decide, and there is no fundamental right to marriage. Chief Justice of India (CJI) DY Chandrachud also mentioned that the Centre plans to form a committee to evaluate the rights and entitlements of individuals in queer unions.

Previous Steps Taken by the Centre

This is not the first initiative by the Centre to support the queer community. In April, the Centre established a six-member committee led by the cabinet secretary to address issues faced by LGBTQ individuals. This committee’s goals include:

• Reviewing and improving processes to prevent discrimination in accessing services.
• Developing measures to protect LGBTQ individuals from coercion, violence, and harassment.

Furthermore, in October of last year, the CJI directed the Centre and state governments to ensure there is no discrimination based on queer identity. This includes sensitising the public about queer rights, creating a hotline for the queer community, establishing safe houses for queer couples, and ensuring that intersex children are not subjected to unnecessary sex-change operations.

These efforts reflect a broader commitment to fostering inclusivity and addressing the needs of the LGBTQ community in India.