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Settling claims to get easier for heirs of deceased clients
The Reserve Bank of India is set to streamline the process for banks to release funds and valuables of deceased customers, establishing a uniform procedure for both deposits and safe-deposit lockers, replacing the current inconsistent rules. Furthermore, the RBI introduced an auto-bidding feature on its Retail Direct platform, enabling investors to automate bids for Treasury-bill auctions, enhancing systematic investment planning.
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