RBI Governor Unveils New Rules for Deceased Account Claims

Reserve Bank of India Governor Sanjay Malhotra announced a significant move on Wednesday, August 6, 2025, to standardize the process for settling claims related to deceased customers’ bank accounts and safe deposit lockers.

The new rules aim to simplify and streamline the often cumbersome claims procedure, providing much-needed relief to grieving families. This initiative follows numerous complaints regarding inconsistencies and delays in processing such claims across different banks.

The RBI Governor highlighted the need for a more empathetic and efficient system, recognizing the emotional distress faced by families during such times. The standardized procedure will bring uniformity and transparency to the process.

Details regarding the specific changes and timelines for implementation are expected to be released shortly by the RBI. This move is expected to significantly reduce the bureaucratic hurdles faced by citizens while dealing with the sensitive matter of settling the financial affairs of a deceased loved one. The impact will be felt across India, benefiting millions of citizens.

Karanveer Sharma

A dedicated journalist and legal expert with a passion for uncovering the truth and advocating for justice. With hands-on experience in investigative journalism, legal research, and case analysis, I possess a strong ability to break down complex legal and societal issues into clear, impactful narratives. My work is driven by a commitment to transparency, integrity, and empowering people with accurate, insightful information.