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Lakshmi   19 November 2016

Claim settlement of deceased father

My dad came to Kolkata few years back and opened an account in SBI bank in which I was registered as a nominee.. now after his death I had to come from Chennai for claim settlement of his account. After 20days of struggle now again BM gave a new set of forms & asking for surety of two people having atleast 4lakhs in their account.. being new to this place I hardly know anyone who would agree for the same kindly guide me.. and I also want to know the rights of a nominee.. According to rbi.org.in..(In such case, therefore, while making payment to the survivor(s) / nominee of the deceased depositor, the banks are advised to desist from insisting on production of succession certificate, letter of administration or probate, etc., or obtain any bond of indemnity or surety from the survivor(s)/nominee, irrespective of the amount standing to the credit of the deceased account holder.) But I had to submit all these.. kindly guide me as to


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 4 Replies

Kumar Doab (FIN)     19 November 2016

You have got the right citation.


It is RBI master Circular on Customer Services; 19& 20


RBI is Central bank its guidelines have statutory force.

SBI has to maintain the guidelines and its internal guidelines on its web site and provide a free copy to customer/claimant.


Have you submitted all papers under proper acknowledgment?

Which documents are submitted by you?


Has the BM asked you to produce sureties in writing?

 

Kumar Doab (FIN)     19 November 2016

Repeated query.


Pls don't repeat.

Lakshmi   20 November 2016

He refused to give in writing and handed me a signature of suriety form and told me without which he cannot proceed

Lakshmi   20 November 2016

I even showed this rbi page but he said it's dated 2005 and it's 2016 and he needs the suriety

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