Current Affairs · Banking Sector Reforms
In August 2025, the Reserve Bank of India (RBI) released draft guidelines regarding the settlement of claims for deceased bank customers. Consider the following statements: 1. Banks must settle deposit-related claims within 30 days of receiving necessary documents; delays attract penalties. 2. If a nominee exists, claims can be settled on the basis of just three documents: claim form, death certificate, and proof of identity/address. 3. Banks may adopt a simplified procedure for claim settlement without succession certificates if the claim amount is up to ₹15 lakh. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both 2 and 3✓
- 2Both 1 and 2
- 3Only 3
- 4Only 1
Correct answer
Both 2 and 3
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