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DECEASED DEPOSITOR
UDGAM portal facilitates users to search unclaimed deposits across multiple banks: RBI to SCThe submissions were made before a bench of Justices Vikram Nath, Sandeep Mehta and Vijay Bishnoi which was hearing a plea filed by journal...- Up to Rs 15 lakh death claim settlement within 15 days: How Indian Overseas Bank’s new online facility helps claimantsOnline death claim: Indian Overseas Bank has introduced a new online portal for death claim settlements. Families can now submit claims fro...
- SBI ordered to release deceased depositor's FD, compensate son in KeralaThe Ernakulam Consumer Commission ordered SBI to repay a deceased depositor's Fixed Deposit and compensate his son. SBI had refused the cla...
- RBI issues guidelines for claims settlement related to deceased bank customersThe RBI has issued standardized guidelines for banks to settle claims of deceased customers, aiming to eliminate divergent practices. Payme...
- RBI streamlines norms for claims settlement related to deceased bank customersThe RBI has issued revised norms mandating banks to settle claims on deceased customers’ accounts and lockers within 15 days, with compensa...
- Ensure nominations in all accounts, lockers: RBI to banksThe Reserve Bank has directed banks to ensure deposit accounts and safety lockers have nominations to ease claim settlements. Observing man...
- Is there a time limit for depositor to claim unclaimed amount from DEA Fund? RBI releases important FAQsWhat is Depositor Education and Awareness Fund: The deposits becoming due to be transferred to DEA Fund (i.e., unclaimed for 10 years), in ...
- PNB unclaimed savings account, FDs: PNB launches campaign called 100 Days, 100 Pays; are you eligible?the Reserve Bank of India (RBI) announced the creation of a new centralised web portal for searching for unclaimed deposits older than ten ...
- RBI to develop online portal for unclaimed deposits of all banksIn order to look for unclaimed deposits that are more than ten years old, the Reserve Bank of India (RBI) has announced the of a new centra...
- PPF, SCSS, Sukanya Samriddhi, other small savings schemes: What happens if an accountholder dies without nominee; govt clarifiesPPF, SCSS, Sukanya Samriddhi, other small savings schemes: The Finance Bill 2023 has proposed to amend the Government Savings Promotion Act...
- Death claim settlement rules for post office schemes like PPF, Sukanya Samriddhi, NSCThe government has made changes to the process of claiming money from several post office small savings plans in a circular dated August 28...
- Unclaimed deposits: RBI launches awareness campaignAccording to RBI norms, balances in savings/current accounts that are not operated for 10 years, or term deposits not claimed within 10 yea...
- How nominees, legal heirs can claim deposit amount after death of HDFC Bank account holderAfter the death of an HDFC Bank account holder, here is how their nominees and legal heirs can make a claim on the deposit amount
- What to do if a company FD holder dies?To avoid uncomfortable situations and running around, investors and their family members should be aware of the claim process in case of de...
- Adopt simple method for claim settlement of deceased a/c: RBIThe Reserve Bank today directed banks to adopt a simple procedure for hassle-free settlement of claims of a deceased depositor.
- Speed up settlement of claims to deceased nominee: RBI to UCBsRBI directed urban co-operative banks not to insist upon succession certificates from nominees while settling claims in cases of deceased d...
- Q & A: Banking and FinanceRepayment of FDs will be in tune with the operational instructions. Normally if there are 2 A/c holders, operational instructions will be ‘...
- Reserve Bank eases rules for repayment of fixed depositsIt said that the signatures of both the depositors may have to be obtained, in case the deposit is to be paid before maturity.
- Query Corner: BankingOur expert V N Kulkarni, Chief Counsellor, Abhay Credit Counselling Centre, guides you in matters relating to banking & finance.
- Deceased bank depositors' kin get reliefFamilies of deceased depositors, who have not named nominees for their accounts, will get at least Rs 25,000 from the deceased’s bank balan...
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