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Veena Venugopal has accused HDFC Bank of delaying settlement of candidates for her daughter after her husband’s death, raising concerns over banking operations in the country.
Under existing banking rules, candidates can submit a written complaint to the grievance redressal department of the bank if claims are not settled. (Image generated by artificial intelligence)
A complaint shared on social media has raised questions about delay in settlements of candidates at HDFC Bank, one of the largest private banks in the country. More than a year after her husband’s death, the bank has not transferred the balance in its account to their daughter, who is a registered nominee, Veena Venugopal, editor-in-chief of Financial Times India newsletter, said on X (formerly Twitter).
Venugopal said all the required documents, including the death certificate, were submitted soon after her husband’s death. She said the bank later informed the family that the documents could not be traced because the employee who received them had left the bank. According to her, the bank then sought fresh documents and notarized papers on stamp paper relating to automatic debts from the account after death and also sought approval from HDFC Standard Life, the insurance company receiving the debts.
She said that her 20-year-old daughter, who was a candidate, had to visit the bank repeatedly and explain the circumstances of her father’s death to the new officials each time. Venugopal said there was no dispute over the account and there was no other claimant. She added that the separate account maintained by her husband with IndusInd Bank was settled within two weeks after a single visit.
Venugopal said that her family is financially stable and does not depend on the account balance, but she added that many families may depend on this money after the death of the breadwinner.
How long do you think it will take HDFC Bank to transfer money from your account to your nominee’s account after your death? Public sector banks get a bad rap, but it has been more than a year and we have not been able to transfer money from my now deceased husband’s account in… — Veena (@veenavenugopal) December 31, 2025
Congress MP Karti Chidambaram also commented on the post on X, mentioning the Reserve Bank of India (RBI), and said he would raise the issue in Parliament.
HDFC Bank responded to Venugopal’s post on January 1, expressing its apology for the incident. “Hi Veena, We are truly sorry for your loss and the dissatisfaction you felt. To help us review this matter immediately, could you please email us with the account holder’s registered mobile number along with any supporting information or a complaint reference number, if available? We ask for your patience and understanding in the meantime as we work to resolve this issue. – Anay, Service Manager,” read a post on the bank’s official handle.
Under existing banking rules, candidates can submit a written complaint to the grievance redressal department of the bank if claims are not settled. If the response is unsatisfactory or delayed, the complainant can approach the Banking Ombudsman of the Reserve Bank of India. Banks must settle claims within 15 days of receiving complete documents, and may have to pay interest for the delay.
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01 Jan 2026 at 4:02 PM IST
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