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Eligbility of sureties to claim fds of deceased person

Querist : Anonymous (Querist) 07 June 2021 This query is : Resolved 
My mother expired due to COVID in september 2020. She had fixed deposits and savings accounts in SBI. Unfortunately she did not mention any nominee for the fixed deposits and savings accounts. As a legal heir, I filed an application along with all required documentation with the SBI in first week of January 2021. After about 4 months the branch informed (as per RBI guidelines, it seems) that the sureties mentioned in the application should be only residents of the town in which the SBI branch is located town and that they should have immovable assets equal or above the claimed amount.

I live in a different state. This is to request you to clarify whether it is mandatory that the sureties should be from the same town of the SBI branch in which I filed the claim or it can be from any where as long as they provide valid documentation. Your guidance is highly appreciated.
kavksatyanarayana (Expert) 07 June 2021
In case the deposit holder does not add a nominee, then legal heirs have to go through the hassle of producing proofs of relation and death certificate to receive the proceeds. After producing the required papers/documents to the Bank, and the BM refuses, you shall complain to the Ombudsman.
Dr J C Vashista (Expert) 08 June 2021
Obtain legal representative / surviving member certificate from concerned Tehsildar and succession certificate from Civil Court through a local prudent lawyer.
T. Kalaiselvan, Advocate (Expert) 08 June 2021
The banks have powers to impose the conditions to be complied with the claimants in this connection since it is a financial burden on the bank for answering any claims in the future.
Hence the bank may impose such conditions as it may deem fit to the circumstances.
Instead of giving such an indemnification you may obtain a legal heirship certificate or a succession certificate and produce it before bank for the claim you have made or look for a surety of the bank's description.
ashok kumar singh (Expert) 09 June 2021
agreed with views of earlier experts, therefore no further comments, so far.
thanks.



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