HDFC Bank Under Fire: Nominee Denied Funds for Over a Year, Grieving Family Tormented

• Veena Venugopal exposes HDFC Bank's failure to transfer funds to a deceased account holder's 20-year-old daughter, the nominee, for over a year.
• Despite submitting all documents, the bank lost files, demanded new notarized papers, and created bureaucratic hurdles, causing severe mental distress.
• The family faced repeated demands for new documents, conflicting information, and unnecessary approvals, unlike IndusInd Bank which processed a similar transfer in two weeks.
• Congress MP Karti Chidambaram criticized HDFC Bank's "pathetic bureaucracy" and called for prioritizing customer rights, tagging RBI.
• The article advises nominees to complain to the bank's grievance department, then RBI's Banking Ombudsman, or a Consumer Forum if funds are delayed, citing new 15-day settlement rules.

Why It Matters: HDFC Bank's nominee fund transfer delays expose systemic issues, causing severe distress to grieving families.