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Date: 27/02/2001
Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants

RPCD.CO.No.RF.BC.59/07.28.01/2000-2001

February 27, 2001

All State and Central Co-operative Banks /
Regional Rural Banks

Dear Sir,

Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants

Please refer to our circular No.RF.BC.09/07.38.01/2000-2001 dated 22 August 2000.

2. In this connection, we clarify that in regard to payment of balances in the accounts of the deceased customers to survivors / claimants the banks 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 in bank has a reasonable doubt, about the genuineness of the claimant/s being the only legal heir/s of the depositor.

Please acknowledge receipt to our concerned Regional Office.

Yours faithfully,

(Ipilan Surin)
Dy. General manger

 
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