Reserve bank of India has issued a circular about repayment of fixed deposit or term deposit. RBI feels that on the repayment of fixed deposit, banks often do some kind of problems to customers in signature problem. So RBI gives relief to customers on this behalf. According to circular in the case of Fixed deposit in the name of Either or survivor, the signature is must only of 1 person and not all in the case of encashing the fd on maturity. Full circular is as under.
DBOD No. Leg BC 46/09.07.005/2011-12
Chief General Manager-In-Charge