What changed
RBI has now advised UCBs with websites to host claim forms for deceased depositor settlements online, making them easily accessible for download. This builds on earlier circulars that simplified the claims procedure and required banks to provide forms to anyone approaching a branch.
What it means for you
For UCBs, this reduces branch footfall and paperwork for a sensitive process, speeding up claim settlements. It also improves customer experience for grieving families, aligning with RBI's push for digital access and transparency.
What you must do
- If your bank has a website, ensure claim forms for deceased depositor accounts are uploaded prominently on it.
- Verify that the forms are easily downloadable and accessible without requiring login or branch visit.
- Train branch staff to direct claimants to the online forms and assist with any queries.
- Update your website's claims section to reflect the latest RBI-prescribed simplified procedure.
Who it affects
All Primary (Urban) Co-operative Banks, Claimants of deceased depositors, Branch operations teams handling claims
Do all UCBs need to put claim forms online?
Only UCBs that have a website are required to place the forms prominently on their site. Banks without websites must still provide forms to anyone approaching a branch.
What if a claimant cannot access the online form?
Branches must still provide physical claim forms to any person approaching for settlement of a deceased depositor's account, as per earlier RBI instructions.