Siddartha Karnani Quoted in Business Standard on Draft Guidelines for Bank Settlement Thresholds

Siddartha Karnani has been quoted in a recent Business Standard article discussing the Reserve Bank of India’s draft guidelines on settlement thresholds for banks.

Commenting on the proposed changes, Siddartha observed:
 “Under the draft, banks must determine a threshold in line with their risk management systems, with a mandatory minimum of ₹15 lakh. The draft also mandates specific documents — death certificate, legal heir certificate, and claim form — for access in the absence of a nominee.”

The article highlights the potential impact of these guidelines on banking practices, documentation requirements, and consumer access to funds, particularly in cases without a nominated beneficiary.

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