niraj (article assistant) 23 May 2012

Nominee to bank account

dear sir/madam

i have my grand mothers pension account. my grand mother died in 2008 and pension had been stopped from treasury and but there is small amount of 12000-15000 deposited in bank a/c.

affidavits was made to confirm that all amount deposited in pension bank a/c will be given to me for that there is no objection from other legal hiers.

now issue is the nominee of pension bank a/c also died and bank branch manager told that it requires succession certificate to withdraw amount.

my que is, can affidavit can be helpful me to withdraw amount from bank a/c and close the bank account?

thanks and waiting for very soon reply

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1 Replies

Kumar Doab (FIN) 23 May 2012

Bank shall act in accordance with "Deceased Depositor Policy" guidelines for which are issued by RBI, IBA.

Nominee could have obtained payment. During the lifetime of nominee if affidavits/letter of indemnity were provided to the bank, bank should not have hesitated.

(B) 2.3

"In this context, banks may, keeping in view their risk management systems, fix a minimum
threshold limit, for the balance in the account of the deceased depositors, up to
which claims in respect of the deceased depositors could be settled without
insisting on production of any documentation other than a letter of indemnity"

BM might have obtained legal opinion from legal cell. You can also approach Nodal Officer of the bank, and ask for simplified procedure in line with spirit and essence of "Deceased Depositor Policy" i.e. the docs submitted by you should suffice.

Attached File : 631570393 deceased depositor 64668.pdf downloaded: 114 times