How to claim the money from banks

Hello All,

Thank you very much for all your valuable inputs. I never expected that i would get such a great help online, but you all have witnessed it. Thanks again.

I'm the nominee cum one of the legal heir, and I'm ready to re-distribute the money as per the consense from all the legal heirs once after claiming the money from bank. 

I met the Special Officer (The one in the higher rank for these bank branches) and posted the same question as in why should i produce legal heir and indemnity bond as the nominee name (name - relation) is mentioned in the document.  But he kept on saying the same answer that i have to come to the branch with Death+Heir certificate, and will discuss further. I don't understand why and what he wants to discuss with me. 

As per all your input, i will submit a written letter by attaching copy of (death certificate + deposit document+ ID/Address proof). If agreed, i will submit the original documents during money disbursement. If not, i will proceed with the next level officer of the same bank or RBI Ombudsmen.

- Niki

Bank can ask you to fill and submit discharge certrificate, which they shall provide to you.If the BM wants to deny let him deny in writing.

By the way which bank it is?

Please inform the Bank name as many Bank officials are following these queries and they may use their good office. l Further, by knowing the Bank name, the other customers may be knowing the harassment being met through that Bank so that they can exercise precautions while dealing with them.  There is  nothing wrong in disclosing bank name and it does not amount to defamation.

The bank is  "primary agricultural cooperative credit society ltd".

What i came to know from the conversation with the branch head is that, they lack in knowledge. They don't even get the necessary forms duely filled in by the customers while opening F.D. During my discussion with the SO(special officer), he was checking with his subordinates as in what is the procedure to sanction the amount, what documents are required for my case & did they get duley filled in Form 17(a) from my father or not. The answers from his subordinate(secretary for the branch) for the form 17a was NO. And SO ordered that Secretery to get Form 17a from here on.

       How can they mention in the F.D document the nominee name/relation/age without getting the proper documents filled in?

One of his subordinate started shouting at me saying that i'm wasting their time. I patiently listned to them because i didn't know the exact bank rules inorder to claim the amount. After which I enquired in State Bank Of India for such cases, and they even said only death certificate is enough along with ID+Address proof. Only then i got a doubt on these officers and contacted a local lawyers opinion. The lawyer had also mentioned that generally the banks will take indemnity and heir certificate.

After hearing all different answers, i was confused. And while searching for an expert forum I came across this site.

Its going to be an year since my father had expired. And i live in a different state, so i have to travel just for this case. Such cases are really creating a problem interms of my money(expense spent on each travel), time and piece of mind. These kind of people should be punished for harassing public with their inefficiency in handling the matter.

Thanks,

Niki

Now that the matter is clear you can rest assured about payment of deposited amount in your right and capacity as a registered nominee.   It is not nominee's concern about obtaining nomination form.  Once the nomination is superscribed on deposit receipt, the intentions of depositor and the duty of banker who has incorporated name of nominee and other particulars are clear.  You need not worry about your money and immediately seek information under RTI Act, as to what is the exact reason for  insisting of irrelevant forms when nomination was admitted on deposit receipt specifically without any ambiguity and their claim settlment procedure when nomination was registered..  I don't think primary societies are under jurisdiction of Banking Ombudsman and only NABARD or RBI Rural are concerned and unfortunately they always support the societies.  I suggest that you should get entire print out of the various solutions given in this issue and enclose the same with your notice/application demanding for payment within 15 days and then file a complaint with Consumer forum seeking damages for mental harassment and for travel expenses also through a lawyer so that you need not come once again.  Hereafter, to save time, please furnish full facts and particulars in this forum as Banks are not one and the same for jurisdictional purposes and follow up.

Thank you, for the inputs.

https://indian-bank.com/pdfs/download/download_account_rules_fd.pdf

Fixed deposit rules

Point No. 13 Claims. is self explanatory.

https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/71309.pdf

Nomination should be a rule (rather than an exception)

MODEL GUIDELINES ON

CODE OF STANDARDS AND FAIR PRACTICES

FOR

SCBS AND DCCBS

The attached file may be useful. Credit society rules may be obtained.

Primary cooperative Banks have been re-designated as Primary Cooperative credit societies, since the RBI did not recognize the credit cooperatives as cooperative banks for their failure to conform to the banking norms and rules. The registrar of Cooperative societies is the controlling authority for these credit coop.societies, and hence filing a PETITION with the registrar of coop.Socities may bear fruits.

Thank you, this make it more clear to understand.

All,

Here is what happened:

Secretary: I had submitted a letter and copy of ID/Adress, FD receipt, Death certificate. I met the secretary of the bank who just did not even go thru the letter and glanced over other attachments and asked where is the heir certificate.

 I: quoted that its not required as the nomination is mentioned in FD Receipt. Then he asked me to meet the Special Office who is in other office which is 10KM's aways from this branch. I insisted him to give the reason in written, but he didnot even hear by words other than repeating "without heir certificate" i wont proceed. Meet SO otherwise.

SO: I had met the SO, he carefully read thru the letter and other attached documents. And now the question he is asking is "How can you prove that you are the deceased persons daughter?". I'm saying you are not the daughter of the deceased and its possible one more person comes and submits similar request. How can we give the money?

  I: Sir, plz note that the nominee name is mentioned and its an evidant that the bank accepted at the time of opening a FD. How can you verify a nominee if the nominee is a friend or any other relation to the deceased? 

SO: We do not take any as nominee other than blood relation. Lets not talk about the past as in why the photo of yours was not taken and why form:17G was not filled in duly by the bank. He accepted that it was a mistake of his staff.

I: Can you plz show me the written claim proceedure and supporting documents required in case like this? Sure the bank must be having them printed behind application form or any other forms.

SO: No such rules or regulation. Whatever we are saying is the procedure.

I: I was stunned by such reply and did not feel like talking anything more because these people are saying the same and forcing me to get some kind of heir certificate (from VAO or from taluk office) and a witness certificate from village panchayat along with Indemnity bond.

At this point Secretary reached the SO office and both of them concluded that get us the heir certificate. We will disperse the money immediately. When i asked the SO to reject in written the same, he asked the secretary to give it in letter pad. And he added that they will not return the application and orther copies which i'm showing them now.

Should i really submit it and get a reject reason? I do not think that will solve this problem. I do not want to leave something for which they are not going to act and there is a chance for the documents to be miss used(sorry to say this.. but when the trust is not there i cant submit).

What can be done next? I tried reaching out to Registrar of Cooperative Society but they section office was not available to discuss the matter. I will try again and see what he says about this case.

Do you have any suggestion?

Thanks for all your valuable information and help.

If the officials are not willing to acknowledge the receipt of your letter/complaint, you can exercise the option of sending letter by registered post and highlight the comments that" whatever we are saying becomes the rule".

It is always better to go along with a witness to such souls and record (audio/visual) for use at appropriate time and in appropriate forum.

Banks can not be rude. RBI has issued clear guidelines on this:

“Rude behavior

A bank may be held liable for deficiency in service owing to rude behavior of its officials and be ordered to pay compensation for the mental agony and discomfort caused.”

Look into the attachment 68140. You may include the details of expenses incurred by you so far including phone charges, traveling details etc date wise with the name of concerned officials, and narrate the incidences..

You can lodge a complaint with the RBI. Pls look into the attachment for contact details, of governor and other competent officials.

It shall be appropriate to somehow accede to the demand of the bank/society under protest and collect your money, and sue the society later and let them face music from RBI etc.

You can contact institution of print and electronic media e.g.

Pehredar, mouthshut, eminent local newspapers etc

to lodge a compliant and air your grievances and update the fellow citizens and public at large.

Thank you very much for this wonderful information about the customer service guidelines laid out by RBI.

I had phoned the RBI ombudsmen officer and he asked me immediately which bank is it. When i said its PACCS, he replied that its not under RBI. As Isaac Gabriel sir mentioned in earlier reply, should we be contacting the RCS(Registrar of Cooperative Society) for this matter? Its fully controlled by state governments i guess.

Just a note: I'm not fully concerned about the money for now. Because anyhow the money should come back to the nominee or the legal heir some day. This is not the first time that i'm seeing such rude and uneducated behavior from such rural banks. Urban banks also overrules sometime and i had already dealt with such cases thru RBI (thanks to RBI ombudsman structure and its effectiveness though it took them more than 6 months to reply to my email!!!).

My worry is, this is not going to be an end. I may face someother issue sometime down the line. And may be someone else like me is facing such issues day in and day out. Is there a better way of handling such problems? May be this is not the right post to discuss about the approaches to solve a big mess in administration. But thought of spelling my mind. 

Learned Mr. Isaac Gabriel has rightly guided you to lodge a complaint with RCS(Registrar of Cooperative Society). Kindly proceed as advised.

Hi All,

Here is the update on this case:

I had mailed the request letter and supporting document to "Deputy Registrar of Co-operative Society" after speaking to him over phone. He had told me that, he will take the legal opinion and take action on this case.

I had called him after a week to findout the status. Here is the reply from him.

"Have to produce an Indemnity Bond stating that I'm "X and daughter of Y" and get it signed by a notary". I have asked him why can't they accept "Ration Card/Voter ID card or any other goverment issued document" as an indentity proof? His reply was, it's possible that the name might have changed since the issuance of such cards and we would like to know the current status.

Should i really produce this indemnity bond ? Will it pose any problem to me later? Why are they neglecting to accept the existing goverment ID proofs?

Thanks for all your direction and inputs.

These conditions are individual fancies out of fear.  Once KYC norms are in force, all documents prescribed suffice for identification.  What I have learnt in life is that instead of prolonging in the name of ego, if the procedure prescribed by those half-knowledge fellows can be easily followed, better yield, suppressing self respect, ego, knowledge etc., as it saves time, energy and tensions.  Sorry but this is a naked truth to deal with such fellows to save ourselves.