Settlement of Claims in respect of Deceased Depositors – Simplification of Procedure – UCBs

It has been brought to our notice that some of the branches of Urban Co-operative Banks were not following the simplified procedure for settlement of claims in respect of deceased depositors as prescribed in our circular under reference and were insisting on production of indemnity bond/legal representation from the nominees. We, therefore, advise all Urban Co-operative Banks to instruct all their branches to adhere the extant instructions on the subject to facilitate expeditious and hassle free settlement of claims on the death of a depositor.

To view the full notification please follow the link

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s