Legal Question in Banking Law in
One of my senior citizen customer has made an FD by EorS with his son. The customer (senior) has expired in apirl'10 but his FD is going to mature by Dec'10. what is the procedure now. whether FD has to be closed or FD has to be change to second person name with non senior citizen catogory
Asked on 8/09/10, 7:49 pm
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
the fd can be in the name of the survivor 2nd person. He can receive the proceeds on maturity and no need to change the category now
Answered on 8/09/10, 8:15 pm
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