In the eventuality of death of an investor following two conditions can be encountered
A nominee has already been appointedin this case the nominee shall approach Receiving Office to file its claim. The claim will be recognized on the guidelines set under the provisions of Government Securities Act, 2006.
No nominee was appointedIf no nomination has been made then executors or administrators of the deceased investor or holder of succession certificate shall submit their claim to the Receiving Office or Depository.
The same process needs to be followed in case of minor investor too. But if the resulting beneficiary is minor than the title shall be transferred in name of person fulfilling the government's eligibility criteria.