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Settling claims to get easier for heirs of deceased clients – Times of India

Settling claims to get easier for heirs of deceased clients – Times of India

MUMBAI: India’s central bank is moving to simplify how banks release funds or valuables belonging to deceased customers. Reserve Bank of India will impose a single, standard procedure for settling such claims for both deposits and safe-deposit lockers. This will replace the patchwork of rules that currently varies from bank to bank. A draft circular will soon be released for …

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