Continuation of Deceased Bank Account

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This discussion clarifies that a joint bank account can typically be continued by the surviving account holder, even after the primary account holder has passed away. Banking guidelines generally permit the joint holder to operate the account for their lifetime. The same principle also applies to joint demat accounts.

RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
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28 November 2023 Sir,

A & B are joint bank account holders, A being first named. A has expired and deceased claim been submitted. However kindly advise :
A. Whether Banj account can be continued by the joint account holder?
B. Is there any banking guideline be pertaining to this?

Kindly Advise.

Thanks & Regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 November 2023 Joint Bank Account rules on death, the other joint account holder can operate the account upon the demise of the primary account holder.

RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
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28 November 2023 Thank You Sir! However kindly advise how long the account can be operated by Joint Account Holder?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 November 2023 It can be operated by Joint account holder till his life time.

RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
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28 November 2023 Thank You Sir for prompt response!

Kind Regards

RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
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28 November 2023 Sir,

Is the position same in the case of Demat Account as well ?
Thanks & Regards