Procedure for claim settlement of FCNR/NRE deposits to non-resident nominees and others
Based on the Reserve Bank of Indi (RBI) advisory, Indian Bank’s Association (IBA) had circulated a Model Operational Procedure (MOP) for settlement of claims of deceased depositors. IBA had also finalized the guidelines for settlement of claims in respect of deceased locker- hirers/depositors of safe custody articles. All the Banks were advised to have a…