The Online Death Claim Settlement Portal has been launched by IOB

Current Context: The Online Death Claim Settlement Portal was launched by Indian Overseas Bank (IOB) on 17 February 2026.

• It provides a digital platform for heirs and nominees to submit death claims without visiting branches.
• The portal covers deposit accounts, lockers, and safe custody articles, ensuring wide applicability.
• A key highlight is that claims up to ₹15 lakh are settled within 15 days, with no requirement of third-party surety.
• This initiative reflects IOB’s commitment to digital transformation, transparency, and efficiency in banking services.
• Most importantly, it offers relief and convenience to bereaved families during sensitive times.

Question:

Q.1 Which bank launched the Online Death Claim Settlement Portal on 17 February 2026?
a) State Bank of India
b) Punjab National Bank
c) Indian Overseas Bank
d) Bank of Baroda

Answer: c) The portal is an initiative of Indian Overseas Bank to simplify and digitize the death claim settlement process for nominees and legal heirs.