HDFC Bank Faces Backlash Over Year-Long Nominee Settlement Delays

• Financial journalist Veena Venugopal exposed HDFC Bank's year-long delay in transferring her deceased husband's account funds to their daughter, the registered nominee.
• Despite initial document submission, HDFC Bank repeatedly requested new papers, citing lost documents and staff changes, causing significant distress.
• Venugopal contrasted HDFC Bank's inefficiency with IndusInd Bank, which settled another account within two weeks.
• HDFC Bank publicly responded on X, expressing regret and assuring priority resolution after the issue gained traction.
• Banking rules mandate claim settlement within 15 days of document submission; customers can escalate unresolved issues to the RBI Banking Ombudsman.

Why It Matters: HDFC Bank's nominee settlement delays highlight critical banking service issues and the need for swift resolution.