[Resolved]  TNSC Bank, Royapettah, Chennai — Payment of deposit & SB A/c proceeds of the deceased to the Nominees

Address:

Chennai, Tamil Nadu

Dear sir, This is with reference to the FD & SB a/c of V. Krishnan, deceased at yourRoyapettah branch. Bank Manager is asking the nominees to submit claim settlement papers.We are furnishing the details below for your intervention. Tamil Nadu State ApexCo-Operative Bank Limited, Royapettah branch inChennai FD-GEN-Scheme 1. No.[protected] dated 24/11/2011 for Rs. 1, 00, 000/- maturity dt 23/11/2013 Depositor name- V. Krishnan, deceased, Nomination REGN. No 827443, Name of the Nominee- Padma Narayanan, sister of the deceased 2. FD No.[protected] dated 24/11/2011 for Rs. 50.000/- maturity dt 24/11/2013 Depositor name- V. Krishnan, deceased, Nomination REGN. No 829243, Name of the Nominee- Padma Narayanan, sister of the deceased 3. Savings Bank A/C No.[protected], balanceavailable- Rs. 2721/- Account holder Name - V. Krishnan, deceased Nomination REGN. No 827262, Name of Nominee - V.Rukmani, sister of the deceased The nominee, Padma Narayanan, aged 65+ & V. Rukmani, aged 85+ wentto the bank's branch and had a discussion with the branch manager along withtheir cousin. Though the manager was courteous, he insisted on submitting the bank's claim form, production of legal heircertificate, indemnity bond on a 100 Rupees stamp paper signed by a Notary andin addition a witness needs to sign the claim papers. Both the nominees possess PAN Card, rationcard for verification, besides one nominee, Padma Narayanan is holding a savings a/c and FD inher name with the same branch. Despite all these evidences and the registerednomination, Bank manager & other staff insist on 2 sets of claim papers andindemnity bond on 100 Rs stamp paper signed by Notary.Thereby this causes a lot of inconvenience and hardship to the nominees who arevery aged and need some body's help to visit the branch and to comply with whatthe Bank says which is against the rules of the nomination facility and the RBI guidelines. Help required to pay the proceeds to thenominees after verifying their identity and they should not be asked to gothrough the claim settlement procedure. Quote RBI'sguidelines, RBI/2005-06/48, RPCD.CO.RF. BC.No.12/07.38.01/2005-06 dt. 12/07/2005 relating to Settlement of claimsin respect of deceased depositors – Simplification of Procedure, 2.2 It may be noted that since payment made tothe survivor(s) / nominee, subject to the foregoing conditions, wouldconstitute a full discharge of the bank's liability, insistence on productionof legal representation is superfluous and unwarranted and only serves to causeentirely avoidable inconvenience to the survivor(s) / nominee and would, therefore, invite serious supervisory disapproval. In such case, therefore, while making payment to the survivor(s) / nominee of the deceased depositor, the banks are advised to desist from insisting on production of successioncertificate, letter of administration or probate, etc., orobtain any bond of indemnity or surety from the survivor(s)/nominee, irrespective of the amount standing to the credit of the deceased accountholder. Unquote Please direct TNSC Bank, Royapettahbranch to pay the proceeds to the nominees after duly verifying their identity withoutcausing any delay and hardship to the nominees who are senior citizens. Regards. Padma Narayanan, V. Rukmani Cell: [protected] Ph: 28114957