| Payment of Balance in Account of the Deceased Customers to Legal Survivors / Claimants|
February 27, 2001
All State and Central Co-operative Banks /
Regional Rural Banks
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.
Dy. General manger