SETTLEMENT OF CLAIMS OF DECEASED CUSTOMERS

PROCEDURE FOR SETTLEMENT OF DECEASED CLAIM

A claimant may lodge the claim at any branch of the Bank, against proper acknowledgement.

Where all required documents for processing the claim are submitted at the time of lodgement, the branch shall issue a written confirmation to the claimant acknowledging receipt of all requisite documents. In case any documents are pending, incomplete, or incorrect, the branch shall clearly intimate the claimant of the list of such deficiencies while acknowledging receipt of the claim. Upon subsequent submission of all required documents, the branch shall issue a confirmation to the claimant that the claim is complete in all respects and ready for processing.

After receipt and verification of all necessary documents, the branch responsible for settling the claim shall inform the claimant that all requisite documents have been received and shall also communicate the likely date of settlement, which shall not exceed 15 calendar days from the date of receipt of all required documents.


Submission of Documents

  • For expeditious settlement of claims, the claimant(s) shall ensure submission of complete, correct, and valid documents as prescribed by the Bank.
  • Submission of incomplete, incorrect, misleading, or false information/documents may result in delay or rejection of the claim, as per extant rules and regulations.


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