quesWhat is the amount below which succession certificate is not required?

A woman's husband passed away and she wanted to inherit the money in his bank account. When we approached the bank the bank asked for succession certificate to transfer the money to her account. As i am aware of the RBI guidelines that amount above 10lacs only requires succession certificate. What is the amount below which succession certificate is not required for getting the money transferred as RBI?

  • ans

    In terms of RBI circular DBOD BCNo.148/09.07.007/1999-2000 dated March 14,2000, it was advised that banks should not insist upon succession certificate from legal heirs where the amount to the credit of deceased depositors does not exceed Rs.25,000.

    Certain safeguards were stipulated in our Circular DBOD.No.BC.56/09.07.07/2000-01 dated December 6 , 2000 in terms of which banks may call for succession certificates from legal heirs of deceased depositors in cases where

    A.  There are disputes and all legal heirs do not join in indemnifying the bank,or

    B.  The bank has reasonable doubt about genuineness of the claimant/s being the only    legal heir/s of the depositor.

    If your amount does not exceed Rs25,000/- then all the legal heir can apply for Rs25,000/- and along with application you are also required to submit affidavit on Rs.100 stamp paper.


  • Send a legal notice to builder for delay in construction @ Rs. 1999/- only

    Know More
  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Property lawyers in India

Similar questions

I have a share in inherited property but currently those properties are registered in my…

My mother died last year. My father died in my childhood. I am the only…

My mother having 13.2 acres of land with registration but it is a 170ACT area..We…

Me and my brother jointly own a flat in mumbai. Our wives are non-working. What…

Property Lawyers in India

Advocate Arjun Vinod Bobde

  Supreme Court of India
 Experience: 16 years

Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years

Advocate Dr.Gubbi S Subba Rao

  K G Road
 Experience: 31 years

Advocate Prashant Mendiratta

  Lajpat Nagar 4
 Experience: 24 years

View all >>

How it Works

Know how LawRato makes legal advice easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly