Survivor's encashment rights allow a joint depositor to encash before maturity upon the first holder's death with proof. The amendment grants the surviving joint holder of a bank term deposit the right to encash the deposit before maturity on death of the first holder by applying to the branch manager and submitting proof of the first holder's death; enacted under the power in clause (xxi) of sub section (2) of Section 80C and effective on Gazette publication.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Survivor's encashment rights allow a joint depositor to encash before maturity upon the first holder's death with proof.
The amendment grants the surviving joint holder of a bank term deposit the right to encash the deposit before maturity on death of the first holder by applying to the branch manager and submitting proof of the first holder's death; enacted under the power in clause (xxi) of sub section (2) of Section 80C and effective on Gazette publication.
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