Querry regarding banking issue

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Dear Sir/Mam Gmrng.

My Client Has One Daughter While At The Time Of Her Birth Her Grand Mother Deposited FD On Her Grand Daughter  Name.The Child Called As Mounica As Nick name But Finally The Parents Of The Child Are Concluded Officially Sujatha.But They Dont Know This Fd Issue.Recently The Child Grand Mother(Who Deposited FD) Was Passed Away.So The Maturity Of The Fd Is Coming.While They Are Approaching The Banker They Are Not Allowing For Their Issue N Saying The Money Will Not Be Refundable Unless The Name Of The Child Officially Proved As Mounica.But All The Records Of Child Are Being As Mounica.But It Is Not Possible To Create All the Records Correction Now.So Kindly Advice Me.

Very Thankful To U All For Ur Great Guidance Through This Extraordinary Service Platform

Replies (6)

'Her Grand Mother Deposited FD On Her Grand Daughter  Name ..... Mounica"

In FD who was inserted/declared as her Guardian/parent?

Yes Dear Sir.Guardian Name Given As Child Mother.

Her mother as guardian can represent her as per the rule. Original receipt is with her. Bank can at most ask for Bond to release the money to her mother's account. Additionally, an affidavit by her mother declaring the girl child in both the name, being one and same would be more than sufficient.

But The Banker Saying The Maturity Amount Is Crosses 20K  So They Can not Pay Cash.It Is Only Through Cheque On Child Name Only.

I never suggested to take redemption amount by cash. As the child is still minor, the amount should be credited to Mother's acc.

OK sir we will requesrt to banker to transfer the fund to child mother account.

Thank u for ur great advice.

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