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Settlement of Savings Banks claims - revised procedures


Settlement of Savings Banks claims - revised procedures

Types of Claims




With Nomination


With out Nomination / legal evidence


With legal evidence


Norms for settlement of claims


7 days from the date of receipt

With Nomination claims


¨  What the customer should present?

¤  Claim Application – SB 30

¤  Death Certificate – in original

¤  Passbook

¤  Copy of ID Proof and address proof of the claimant(s)

Without Nomination/ Legal evidence


       What the customer should present?

Claim Application – SB 30

Death Certificate – in original

Passbook

Letter Indemnity ( signed by the claimant(s) and Suritie(s) and attested by the Notary Public)

Affidavit (Executed before Oath Commissioner)

Letter of disclaimer on Affidavit (Executed before the Oath Commissioner)

Copy of ID Proof and address proof of the claimant(s)
With legal evidence
¨  What the customer should present?
¨  What the customer should present?
¤  Claim Application – SB 30
¤  Death Certificate – in original
¤  Passbook
¤  Legal evidence in original or certified copies or attested copies with original (Original will be returned after verification)
¤  Copy of ID Proof and address proof of the claimant(s)

Powers for Sanction of claims (with nomination)


(SB/TD/PPF)

RD/ MIS

SCSS

Time Scale SPM
1000
Cl III SPM
 Cl II SPM    – 1000
Cl   I SPM – No limit
No limit
LSG Norm based
2000
No limit
No limit
SPM/DPM/PM in HSG (Non Gazetted)
SPMs - 5000
PMs – No limit
No limit
No limit
DPM/Sr., PM/Dy., Chief PM/SPOs (All Gazetted Gr.B)
No limit
No limit
No limit
Chief PM/ SSPOs (Gazetted Gr.A)
No limit
No limit
No limit
Regional Director/ Director in GPO
Need not be referred to.
Need not be referred to.
Need not be referred to.
CPMG/ PMG
Need not be referred to.
Need not be referred to.
Need not be referred to.

Without nomination




(SB/RD/TD/MIS/ SCSS)
Time Scale SPM
1000
LSG Norm based
2000
SPM/DPM/PM in HSG (Non Gazetted)
5000
DPM/Sr., PM/Dy., Chief PM/SPOs (All Gazetted Gr.B)
20000
Chief PM/ SSPOs (Gazetted Gr.A)
50000
Regional Director/ Director in GPO
75000
CPMG/ PMG
100000

With legal evidence


Time Scale SPM
1000
LSG Norm based
2000
SPM/DPM/PM in HSG (Non Gazetted)
SPM – 5000
PM - No limit
DPM/Sr., PM/Dy., Chief PM/SPOs (All Gazetted Gr.B)
Need not be referred to.
Chief PM/ SSPOs (Gazetted Gr.A)
Need not be referred to.
Regional Director/ Director in GPO
Need not be referred to.
CPMG/ PMG
Need not be referred to.


Death certificate

        Issued by Municipality/ local bodies, Hospital, Police station in prescribed form
       When death occurs in a place where none of the above said authorities exist, a certificate of death in original form a Gazetted Officer, a MP/ MLA/ Panchayat Officer/ Village Police Patel may be submitted
       Certificate from last employer/ Doctor/ Hakkim who last attended the deceased if BAL < 250
       Certificate of death issued by Parsee panchayat, Burial Certificate issued by Church authorities may be accepted if certificate can not be had from Municipality/local body/ Hospital etc.,

 Check list for sanction of cliam :


       Account Particulars are correct and verified with our records             ( Account No., Name of Depositor, Balance, Nominee name if any., etc.,)

       BPM/SPM/PM/Sr., PM has accepted the two witnesses in the claim application

       ID Proof and address proof submitted

       Death Certificate in original submitted

       Legal evidence is submitted (if No Nomination exist and claim exceeds 1 lakh)

                                                                                or

       Annexure viz., (if No Nomination and No legal evidence)

       Letter of Indemnity – signed by claimant and suritie(s) attested by Notary public

       Affidavit – executed before the Oath Commissioner

Letter of disclaimer on affidavit – executed before the Oath Commissioner

Procedure :


       Receipt of claim application should be acknowledge on the same day

       Sanction the claim if satisfied with the above check list if you are competent

       Otherwise forward on the same day to the competent authority  by Insured post

       Pay the amount by getting the acquittance on the claim application

       Preserve a copy in claim file and forward the original as voucher to the HO /  SBCO

       If the claim is to be sanctioned by any other administrative authorities other than the Postmaster, then the sanction will be issued separately and the PM concerned will sign in the claim for by attaching a copy of sanction.

All payment should be made by cheque irrespective of amount

Special  Procedure of claims :

       Claim Closure without PB

      refer the case to the Head of the Division

      If permitted, get an application from the claimant to do so

      Attach it with the warrant of payment

      Make remarks in Ledger and other records

       Payment to Minor claimants –

      to the person appointed in the nomination to receive it.

      Where no nomination exist, Guardian (Father or Mother or a person entitled under law when neither parent is alive)

      Certificate to be furnished by the Guardian that the minor is alive and the money is required on behalf of the minor.

       Transfer of account to the name of the claimant

      RD and TD account can be continued by the claimant till maturity

      Separate Form 1/ SB 3 card/ SS will be given by the claimant

Necessary remarks will be entered in the concerned remarks

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