N K singh 17 May 2018

Claim from ppf account of deceased

My father was having PPF account in State BANK OF iNDIA. I am the registered nominee in the bank for this account After his death, I have submitted the claim form along with all the documents. The bank is insisting that they will retain the PPF passbook of my father as this is the claim settlement. I am also having a KYC compliant SB joint account with my father.

I want to know if the bank has the right to retain the passbook in the above case

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3 Replies

Adv Deepak Joshi +917017821512 (Advocate) 17 May 2018

Bank generally ask for all the products of the account, will your retain photo copy of passbook if you need. Feel free to cal for any help at 9456777600

Adv Deepak Joshi +917017821512 (Advocate) 17 May 2018

Bank generally ask for all the products of the account, will your retain photo copy of passbook if you need. Feel free to cal for any help at 9456777600

N K singh 18 May 2018

Thanks for the quick reply

Right sir, I have submitted all the product documents including the original passbook, But bank wants to retain the original passbook. As it is the statement of my fathers deposit in bank, does bank legally has the right to retain it. Bank has all the record with them in their system. They can close the account, write on the passbook as account settled and closed and return the passbook for my records.