Deposit claims up to Rs 15L get easier for kin of deceased

Sep 27, 2025 - 02:30
Deposit claims up to Rs 15L get easier for kin of deceased

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The RBI has introduced new rules simplifying claims for deceased bank customers, allowing nominees to claim up to Rs 15 lakh from banks and Rs 5 lakh from co-operative banks. These standardized procedures cover deposits, lockers, and safe custody items. Banks must settle claims within 15 days, with penalties for delays.

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