Axis bank not giving info to nominee

It appears that you are not coming out with full facts, as No bank can resort to such illegal and arbitrary role in settling a claim , when they enjoy immunity and settling nominee is in due course protects them.  Unless they are restricted by an order of court, they can not reject nominee settlement.

Write to Banking Ombudsman.  If not satisfied file a consumer complaint before Forum demanding huge compensation.

You need not spend one rupee for complaining to Banking ombudsman and can file complaint on line.  For district consumer forum, you can give power of attorney to a friend or relative and ask him to appear to counter and submit on your behalf.

Please go through both websites.  But issuing a Registered notice to Bank  is mandatory before filing such complaints.  The proceedings are summary in nature and the things to be seen by deciding authorities are whether there was a nomination in the name of complainant, and whether he has submitted such claim form with death certificate or not, and the response from Bank stating such specific reasons against such settlement.   The process is simple and any person with minimum knowledge can make such submissions before Ombudsman and District Consumer Forum.  A sample notice format is provided below and the same can be coverted to complaint to both authorities.

This notice is given by ...................................... (full address) who is the registered nominee of..............................

1.Complainant is registered nominee for the following accounts standing in the name of ....................

2.Complainant, after the death of depositors/clients has requested to settle the accounts and submitted death certificate and normal claim forms but Bank has not stated any reasons for not settling the claim in writing and harassing the depositor for...months.

3.Finally this notice is being issued for settlement of the entire claim with interest.

4.Please take notice that if the above  claim is not settled within 15 days from date of receipt of this notice, nominee/complaint will be constrained to proceed against the Bank, demanding compensation for deficiency of service and harassment of nominee/complaint.

Complainant.

The same can be converted to complaint before Ombudsman and Forum suitablly by mentioning the date of Registered notice and enclosing such copy to complaint with service proof.

It is mandatory to prtobate the WILL in Mumbai, Kolkota.

It is mandatory to prtobate the WILL in Mumbai, Kolkota.

FDR’s: you may think upon trying to fetch relief from RBI. IT is believed that there is NO court order restricting the bank.

Equity Shares: you may think upon trying to fetch relief from SEBI.

Mr. Prasad, I am not hiding anything. I am in USA and did file complaint on RBI ombudsman but every complaint somehow goes in a black hole .

Sent legal notices to Axis Bank...same result...deadening silence.  However, on phone, bank employees have acknoledged the facts that I am nominee on all three, DMAT, FD and Savings account.  

Its surprising that Bank is not telling me why they can not transfer the a/c s.  They did say after 6 months of trying that there is no court order or injuction restraing the Bank.   They don't tell why they can not transfer if there is no court order .  

The beurocracy is mindboggling. We are searching for title deed of flat for last 2 months  and can not find it in Municipal records inspite of having assesee numbers.  I love India, Its my my motherland...but if this is how the system works ...I think we will never be able to come even close to china or USA for next 200 years.

When the bank needs us to invest funds in India, we get a barrage of phone calls, e mails, DHL express letters , greeting cards almost every day but once they have to pay back...everything magically turns into a communist beaurocracy rendering customer/investor helpless and at mercy of bank clerks.

Anyway, thanks for the reply. You are doing a great service to tens of millions of overseas Indians by providing information . Regards. 

Note: Only today, after 8 months, a bank employee told me that the bank received a letter from my sisters  that they want bank to not release funds to nominee. My married sisters  have ZERO right on my father's estate as in his last  Will ,

It is felt that contactc details of: RBI,SEBI have been supplied to you.

You may get in touch with them.