Legal Question in Banking Law in India
joint bank account (either or survivor) is operation stop by any one holder
Asked on 8/31/11, 10:51 pm
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
some banks insist that just as either or survivor has been given by the depositors jointly, so also stop paymentt by one will not be taken note off. But policy of bank is to act cautiously and may stop operation by the other when one withdraws the mandate. The position is yet to be tested in a court of law
Answered on 9/02/11, 12:22 pm
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