RBI Rules for Deceased Claims
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I’m trying to figure out which specific RBI rules finally fixed the 15-day deadline for settling deceased claims. My bank is still dragging its feet and asking for succession certificates that the new guidelines state aren’t needed. How exactly do I cite the rules on standardized forms and delay compensation to ensure they take me seriously?
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You're right — RBI rules are now very strict about this. Banks must settle claims within 15 days once they have the necessary documents. To claim benefits, a nominee only needs a death certificate and IDs, without needing legal heir documents.
If they delay, they actually owe you interest for the delay. Just mention these RBI guidelines to them, and if they still stall, you should complain to the RBI Ombudsman.
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