175B083 Mahesh P S 01 February 2021
In terms of RBI circular dated March 14,2000, it was advised that banks should not insist upon succession certificate from legal heirs where the amount to the credit of deceased depositors does not exceed Rs.25,000.
Certain safeguards were stipulated in our Circular dated December 6 , 2000 in terms of which banks may call for succession certificates from legal heirs of deceased depositors in cases where
A. There are disputes and all legal heirs do not join in indemnifying the bank,or
B. The bank has reasonable doubt about genuineness of the claimant/s being the only legal heir/s of the depositor.
If your amount does not exceed Rs25,000/- then all the legal heir can apply for Rs25,000/- and along with application you are also required to submit affidavit on Rs.100 stamp paper.
G.L.N. Prasad (Retired employee.) 01 February 2021
It all depends on the rules and regulations of that settlement authority with whom such moveable property is lying in custody for the deceased.
Dr J C Vashista (Advocate) 02 February 2021
Whether the deceased account-holder did not nominate someone in the account ?