Legal Question in Banking Law in India

In a joint a/c operations with mandate of Former or Survivor, please advise whether signatures of both are required for discharging FDR to obtian loan against FDR during the life time of Former


Asked on 6/08/10, 8:21 am

2 Answers from Attorneys

Pravin Vaidya Independent

Yes

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Answered on 6/10/10, 3:29 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

General rule is : anyone may discharge the FDR. However, you may better contact the concerned bank and follow their procedure.

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Answered on 6/10/10, 9:03 pm


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