Refusal to accept suc cr. by bank

Succession certificate merely certify your entitlement to receive but furnishing bond is a legal requirement and it has nothing to do with succession granted by court.

Succession certificate merely certify your entitlement to receive but furnishing bond is a legal requirement and it has nothing to do with succession granted by court.

Succession certificate merely certify your entitlement to receive but furnishing bond is a legal requirement and it has nothing to do with succession granted by court.

Succession certificate merely certify your entitlement to receive but furnishing bond is a legal requirement and it has nothing to do with succession granted by court.

Pls use full words in query and avoid SMS/Whatsapp language.

GO thru RBI guidelines;

https://rbi.org.in/scriptts/NotificationUser.aspx?Id=2284&Mode=0

 

Bank’s internal private guidelines framed in accordance with RBI guidelines e.g;

https://www.bankofbaroda.co.in/Settlement-of-Claims4.htm

(B) Accounts without the Survivor / Nominee clause

For deposit accounts with operating instruction singly, jointly, joint account with mandate “either or survivor”/”Former or Survivor”/ “Any one or Survivor”/ with or without Nomination process is given at part 3 of chapter 1. Requirement of documents are as per check list given at para-4 of this chapter.

 

General Guidelines

i. Payment against Legal Representation

In regard to payment of balances in the accounts of deceased customers to survivors/ claimants, the branches may call for succession certificates from legal heirs of deceased depositors in cases where there are disputes and all legal heirs do not join in indemnifying the bank or in certain other exceptional cases where the branch has a reasonable doubt, about the genuineness of the claimant/s being the only legal heir/s of the depositor.

When all the heirs are ready to sign claim form and indemnity bond, branch may not insist for succession certificate.

The above guidelines are also applicable in respect of other assets like articles kept in the Banks, securities held against advances after adjustment thereof, if any, etc. of the deceased customers to legal survivors / claimants.

 

And Similar queries at LCI

https://www.lawyersclubindia.com/forum/details.asp?mod_id=92776&offset=1

Judgments; starting from old

Madras High Court

Venkatalakshmi Ammal vs The Central Bank Of India, Ltd

 

https://indiankanoon.org/doc/1732869/

 

Try with senior Bank officials e.g; Circle head, Chairman's office..

Or seek intervention by CEPD-RBI