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aruna (housewife)     02 October 2012

Bank fds lost

My friend lost her bank FDs somewhere .  She is not sure of how many .

she has some with a initial of K some as G .  Name is same.

Since she stays in a rented house , she gave adress of her parent's house and in some her sister's house.

 

She is not sure of the amount etc.  What is her next steps in this matter to get the money back from bank.



 5 Replies

Adv. Nikhil Seth (legal consultant (9867264707))     02 October 2012

she can ask  for duplicates of fds

adv. rajeev ( rajoo ) (practicing advocate)     02 October 2012

she can request the bank manager to issue the duplicate certificate

Kumar Doab (FIN)     02 October 2012

Bank shall act according to its well defined Deposit Policy approved by Board of the bank, directives for which are issued by RBI.

You may log onto bank website and go thru the bank policy.

E.g. in case of Punjab and Sind Bank:

 

 

24. Duplicate Fixed Deposit Receipts:

I) Issuance of Duplicate Fixed Deposit Receipts:
 

SUB: - DEPOSIT POLICY OF THE BANK

  • If the original FDR is misplaced / lost, the duplicate thereof shall be issued with an express endorsement on the same that it has been issued in lieu of Original FDR (specify the number / account) after the same was reported lost/misplaced. Corresponding entry shall be made in the ledger of the account concerned including the electronic ledger.
  • At the time of the issuance of duplicate FDR, the deposit holders shall be required to execute indemnity Bond(s), which be appropriately stamped under the relevant State Laws. Stamp Duty shall be borne by the depositor concerned.
  • The Bank shall issue necessary Circular to all the branches to mark caution against the lost FDR.
  • Where the original Fixed deposit Receipt, which has been reported lost / misplaced, is held by more than one person jointly, the request for issuance of duplicate FDR shall be made jointly by them, the indemnity bonds shall be executed by each of such joint holders and the proceeds of the FDR, in case of pre-mature encashment, shall be credited to a joint account held by such holders either maintained with Punjab & Sind Bank or any other bank.
  • Besides an indemnity bond, an undertaking from the beneficiary shall be taken. In the undertaking, the beneficiary shall specifically and in certain terms declare the following:
    • Date of loss/misplacement of Original FDR;
    • Circumstances, in which such loss/misplacement took place;
    • All efforts, as are expected from a reasonable and prudent person, to locate the original FDR have been exhausted;
    • Matter has been reported to the bank at the earliest possible instance;
    • The original FDR was misplaced from the possession/control of the beneficiary or that of some third party;
    • The original FDR has not been pledged or delivered or handed over to any third party as a primary/collateral security or for any other purpose;
    • In case the original FDR is located after the loss has been reported to the bank, the same shall be immediately handed over to the bank;
    • This undertaking is in addition to and not in derogation of the indemnity bond executed by the beneficiary;
    • The beneficiary understands that the undertaking constitutes a crucial document for the purpose of the bank’s decision to issue a duplicate FDR and make payment there under.
    • The undertaking should be appropriately stamped under the relevant and applicable state laws. Charges whereof shall be borne by the depositor(s). Charges thereof shall be borne by the depositor(s).

Prasun Chandra Das (Banker)     03 October 2012

I think the main problem is that Aruna's friend does not know the FD nos, the FD amounts, the addresses in the FDs, the signatures on the FD application forms, etc. So it will be quite difficult for Aruna's friend to collect this data.

 

If these details are known, it becomes very easy since all banks issue duplicate FD receipts on execution of Indemnity by the FD holder.

Kumar Doab (FIN)     03 October 2012

@ Aruna,

Your friend may visit the bank. Give a name and all a/c including FD's shall be on the screen of the computer. All Forms signed by customer shall be available in the branch of the bank where FD's are held.If FD's are prepared by debit entry from SB a/c the record shall be available.

Bank Manager's are usually helpful.

"some with a initial of K some as G .  Name is same."

Bank managers also used to ask customers to prepare FD with different intials keeping the name same.

Whenever an a/c is opened SB/FD/Current etc. certified copy of the form should always be obtained from the bank and originals and copies of FD may be kept in separate file at separate place.Bank can not decline to provide certified copy.

Issue of your friend shall get resolved.You have to peruse with the bank.


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