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Searched Tag: bank accounts of deceased
The extant instructions require banks to adopt a simplified procedure to facilitate expeditious and hassle-free settlement of claims made by survivors/nominees/legal heirs, the procedures vary across banks, it said

RBI to make claims settlement simpler for nominees of deceased

August 6, 2025, 01:38 PM - 3 min read

The central bank’s Governor, Sanjay Malhotra, said that they are working to standardise the procedure for settlement of claims in respect of bank accounts and articles kept in safe custody or safe deposit lockers of deceased bank customers

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