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SETTLEMENT OF SAVINGS BANK CLAIMS -REVISED PROCEDURE w.e.f. 01.01.2011.

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Presentation on theme: "SETTLEMENT OF SAVINGS BANK CLAIMS -REVISED PROCEDURE w.e.f. 01.01.2011."— Presentation transcript:

1 SETTLEMENT OF SAVINGS BANK CLAIMS -REVISED PROCEDURE w.e.f

2 Types of Claims  With Nomination  With out Nomination / legal evidence  With legal evidence

3 Norms for settlement of claims 7 days from the date of receipt

4 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)

5 With out 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)

6 With legal evidence  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)

7 Powers for Sanction of claims Sl. N o Sanctioning Authority Powers with Nomination (SB/TD/PPF)RD/ MISSCSS 1Time Scale SPM1000Cl III SPM Cl II SPM – 1000 Cl I SPM – No limit No limit 2LSG Norm based2000No limit 3SPM/DPM/PM in HSG (Non Gazetted) SPMs PMs – No limit No limit 4DPM/Sr., PM/Dy., Chief PM/SPOs (All Gazetted Gr.B) No limit 5Chief PM/ SSPOs (Gazetted Gr.A) No limit 6Regional Director/ Director in GPO Need not be referred to. 7CPMG/ PMGNeed not be referred to.

8 Powers for Sanction of claims Sl. NoSanctioning AuthorityPowers with out Nomination (SB/RD/TD/MIS/ SCSS) 1Time Scale SPM1000 2LSG Norm based2000 3SPM/DPM/PM in HSG (Non Gazetted)5000 4DPM/Sr., PM/Dy., Chief PM/SPOs (All Gazetted Gr.B) Chief PM/ SSPOs (Gazetted Gr.A) Regional Director/ Director in GPO CPMG/ PMG100000

9 Powers for Sanction of claims Sl. NoSanctioning AuthorityPowers with Legal Evidence (All Categories) 1Time Scale SPM1000 2LSG Norm based2000 3SPM/DPM/PM in HSG (Non Gazetted)SPM – 5000 PM - No limit 4DPM/Sr., PM/Dy., Chief PM/SPOs (All Gazetted Gr.B) Need not be referred to. 5Chief PM/ SSPOs (Gazetted Gr.A)Need not be referred to. 6Regional Director/ Director in GPONeed not be referred to. 7CPMG/ PMGNeed not be referred to.

10 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.,

11 Check list for sanction of claim 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

12 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

13 Special procedures Claim Closure with out 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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