Axis bank wants original fd receipts.

Enough is said on a simple issue, now the time is to commence action.

File a notice to Axis Bank to settle the claim within 15 days  on the basis of nomination, and as per laid down procedure for the lost/ traced deposit.  Enclose original death certificate, photo identity (though you are having) that certificate. 

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Wait for a month and then file a complaint before Banking Ombudsman.   Then the stand becomes clear in writing before Ombudsman and you can take further action taking into account their defense.

Quite a simple issue is being heavily overladen with the garb of a very complex legal issue making you quite confused on the issue to complicate your claim. There is no need of any legal notice. However, without the instrument of FD, claim would not be entertained.,So the need of application for the duplicate FD after establishing your identity.  Once you establish your identity on intimation of death along with death certificate to the bank, you will have to apply for a duplicate FD, as a nominee and to claim the amount. So, if the formalities of bank are completed calmly & systematically, there would also not arise any need for any complaint to the banking ombudsman.

You may better take assistance of some known banking official to get the issue sorted out without any fuss.

Agreeing with Mr. G.L.N.Prasad: the nominee is mere trustee, and has to share the proceeds with other legal heirs.

The Bank can discharge its responsibility by making the payment to Nominee as per valid nomination.

The bank may have its procedure of identifying Nominee by some extra careful methods e.g; Visiting the residence/locality and inquiring or asking for identification by 1-2 persons acceptable to bank.

Check and close the matter.

The tips on duplicate FDR have already been shared in previous posts.

The Bank's procedure needs to be complied.

You may inquire about it.

You have already posted that bank recognises you.

Nominee is trustee or not, has no relevance with the present problem about claim against nomination.

As of his chronic habit of misleading the querists with his absolutely wrong and side-tracking advice, the imposter Mr. Doab seems to have tried to make the issue some more complex in addition to his earlier multiple vague responses, when he has stated, "the nominee is mere trustee, and has to share the proceeds with other legal heirs," as if the legal heirs have raised any disopute and also if bank can directly entertain the claim of other legal heirs as against the nomination that too when the querist has not raised any question about dispute by other legal heirs.

Of course, his two additional posts have definitely proved that as of his chronic disease of posting multiple posts, he seeks fun in posting several additional posts without any relevance to the query and/or problem.

Dhingra saab,

Let us confine to the main issue and not to distract attention on personal issues.

Perceptions differ, replies may be different.  It is left to member to chose an option suitable to him.

Number of posts is not a big issue for those who is having sincerity, as they will be thinking of the issue all the time, and may get better ideas, due to search, discussion etc.

Even you have posted 3 replies.

This is is a simple issue, and I presume that member is not coming with all facts.  Now there are 3 pages of posts on a simple issue.  It is enough, let the membe decide, as there were several replies.

I am submitting these, as who may require such guidance in future has to read all the 5 pages and may get confused.  Let us maintain decorum, do not indulge in blame game, respect every member  and complete the guidance part with two or three replies maximum.

The heated debate is interesting. I have sent e mails to Mumbai operationshead@axisbank.com to ask what I need to do to get duplicate FD receipts. My authorized lawyer is also sending a letter with the same quary.  Same question I have asked to nodal.officer@axisbank.com and shikha.sharma@axisbank.com.

I live overseas and it is  baffling to see that Axis bank employees enjoy this little power over customers and use that to withhold information, mislead by contradictory answers etc.

But, when they need NRIs to  send money to invest thru their bank, suddenly they have all my emails, cell phones and office phones /home phones and dozens of solicitation calls and DHL envelops arrive. Sometimes they call to pitch their product  at midnight.

Clerk Raj is still alive and well in India.  They have all my IDs and opened two acounts in my name in last 6 months.

BTW, I am nominee and I am also sole beneficiary. I sent them copies of FD recceipts. They showed me receipts in their computer system when I visited the bank 8 months ago.  Thanks all for intense debate.

Mr. AKS,

Of course, there should be no doubt, you are certainly the beneficiary, as you said, "I am nominee and I am also sole beneficiary." You need not get misled by irrelevant and vague type of advice by Mr. Doab or GLN Prasad. So far as the law is concerned, no law has said in clear terms that a nominee is merely a trustee of the other legal heirs, whereas, the nomination can safely be treated as will of the deceased for a particular type of property, i.e., FD, etc., unless that is made redundant by some subsequent formal will of the deceased person, as against his existing nomination.

Apparently, had the deceased wished to distribute the property amongst the other legal heirs also, he would not have nominated you as the beneficiary, just to act as a charity giver on his behalf.

The irony is, once someone has said that a nominee is merely a trustee, some people follow them blindly without applying their own minds or verifying the factual legal position, and start saying like that just to confuse the layman, who tries to trust them. I know that there exist some case laws, but I do not contribute on such belief, as that all depends upon the characteristics, nature and circumstances of a particular case. I have my own firm belief that a nominee is not merely a trustee. A case-law is never intended to made a universal application, unless a competent court declares so in writing, as that applies only to that particular case in which the judgment has been delivered. Nomination law itself gets redundant, if such assumptions are allowed to be considered as final and having an overriding effect on the existing statutory provisions.

Unless there is some real dispute amongst the legal heirs on some merits, nominee can doubtlessly be a sole beneficiary of that particular property for which he has been nominated. More so, in your query, you have not made any mention about any dispute amongst your kith and kin. So, where was the relevance of advising you that you are merely a trustee and required to distribute the FD proceeds to your relatives like charity?

Dhingra Saab,

I am neither a friend nor a foe to any one, and I onlly submitted that every member has a perception, and it is ultimately the member to decide.

I do not know any one in the forum, and with due respects to your age and learning, I submit that this kind of personal issues should not reflect in any posts as they are not relevant to the particular issue and puts the forum into a poor light.

Rest is left to your wisdom and I do not wish to comment on any other thing.

Mr. GLN Prasad,

It is not the first instance, you have come in support of an imposter, Mr. Doab. Earlier also you came to his rescue, when I pointed out about his wrong and misleading advice.

Cany you please make it clear, with what intention you wanted me to desist from pointing out about his totally wrong and misleading advice, as against the interest of the author of the query?

In fact, your intervention was quite uncalled for and unwarranted when you don't know the background of Mr. Doab or me. Certainly, you preferred to advise like a self styled arbitrator without any authority. Even you advised me to respect a person, who starts abusing profusely any person, whosoever asks him to reveal his real identity. BTW, even your identity is incomplete and you have not posted any introduction or background about you in your "ABOUT ME" page. Who knows, you are really a Director or not and of which entity, but have tried to intervene unduly in support of his totally wrong, misleading and evasive advice?

Can you tell, what is wrong in asking a person to reveal his identity and instead of revealing his identity he starts abusing even going up to the extent of bringing the sisters and wife of that person asking him reveal his identity.

Since I have asked you to ask him to come forward with his real identity for the sake of test check, WHY NOT ASK HIM?

Also, when you have come to his rescue, CAN YOU ASSURE that he is not a dreaded criminal or a spy of Pakistan or ISISI, when on hundreds of requests, he has not revealed his identity?

Folks...please keep cool and let go.  I didnot know my question can create so much heat.  This is a great forum and is helpful to many people. So we should maintain the dignity.

Dear AKS,

NOT YOUR QUESTION, BUT the extremely side-tracking reply of the imposter, Mr. Kumar Doab, at first and then mindless support of the imposter for his wrong and misleading advice by Shri GLN Prasad were the real cause of creating heat. Your problem was simple that could attract a simple solution, not such an impossibly tricky solution provided by Mr. Kumar Doab.