Gold loan in bank .nominee
Deepak
(Querist) 24 June 2017
This query is : Resolved
My father nominated me for gold loan in 2 different banks. After the death of my father his 2nd wife sent notices to the banks for gold.one bank gave me the jewel.but the other bank says I have to get signed by all the legal heirs .My mother died 20 years back. N this step mother married my father just 3 years .N have no kids out of the marriage. Plz suggest my legal status
Kumar Doab
(Expert) 24 June 2017
It is believed that you are all Hindu.
confirm!
Kumar Doab
(Expert) 24 June 2017
If there is valid Nomination in bank then bank may dispose its responsibility by dealing with nominee.
Rajendra K Goyal
(Expert) 24 June 2017
Bank should have released the articles on the basis of nomination if the complaining party have not brought the court orders regarding stay on such delivery.
Asking for signatures / consent of all legal heirs is not required.
Dr J C Vashista
(Expert) 24 June 2017
I agree with expert Mr. Rajendra K Goyal ji.
There is well settled law there is no requirement of NOC or succession when nomination is already registered by Bank.
Kumar Doab
(Expert) 24 June 2017
Agreeing with Mr. Rejendra K Goyal, Dr.J.C.Vashista.
Go thru: RBI Master Circular on Customer Service in Banks;S:20
https://www.rbi.org.in/scripts/bs_viewmascirculardetails.aspx?id=9008
These RBI guidelines have statutory force.
Has Bank communicated its demand in writing?
krishna mohan
(Expert) 28 June 2017
Well advised by experts. You can demand for closure of loan being the nominee nominated by your father. But Bank would like to play safe to avoid any claim from legal heirs. You can complain to Grievance Officer of the Bank and if no results can complain to Banking Ombudsman. To avoid interest better pay the dues in your name and raise the demand.
