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deceased customers News

RBI Introduces 15-Day Deadline for Deceased Customer Claims, Penalties for Delays to Ensure Swift Settlements

Sarah Mitchell 11 Aug, 2025

The RBI has proposed a 15-day deadline for settling claims of deceased customers, introducing penalties for delays to ensure swift and uniform processing across banks. The draft in...

Business

RBI Mandates Banks to Compensate Families for Delayed Payouts of Deceased Relatives' Assets

Sarah Mitchell 08 Aug, 2025

The RBI has announced new rules effective from 2026, requiring banks to compensate families for delays in accessing deceased relatives' funds and valuables, with penalties for dela...