Explanation:

In banking, nomination refers to the process of appointing a person to receive the money or assets in case of the account holder's death. A nomination is an important step to ensure that the money or assets are transferred smoothly to the nominated person without any legal complications.

Nomination can be done in various types of bank accounts, including savings bank accounts, recurring deposit accounts, and fixed deposit accounts.

Savings Bank Account:
A savings bank account is a basic type of bank account that allows individuals to deposit and withdraw money as per their requirements. It is widely used for everyday banking needs. In a savings bank account, nomination can be done by filling up a nomination form provided by the bank. The account holder can nominate a person who will receive the money in case of their death.

Recurring Deposit Account:
A recurring deposit account is a type of account where individuals deposit a fixed amount of money at regular intervals for a predetermined period. It is a popular savings option for individuals who want to save a fixed amount every month. Similar to a savings bank account, nomination can be done in a recurring deposit account by filling up a nomination form provided by the bank.

Fixed Deposit Account:
A fixed deposit account is a type of account where individuals deposit a lump sum amount for a fixed period of time. It offers a higher interest rate compared to savings accounts. Like savings bank accounts and recurring deposit accounts, nomination can be done in a fixed deposit account. The account holder can nominate a person who will receive the maturity amount in case of their death.

Conclusion:
In conclusion, nomination can be done in all types of bank accounts, including savings bank accounts, recurring deposit accounts, and fixed deposit accounts. It is an important step to ensure the smooth transfer of money or assets to the nominated person in case of the account holder's death. It is advisable for individuals to nominate someone to avoid legal complications and ensure that their hard-earned money reaches the intended beneficiary.