Current Account

Current Opening  Accounts

Current Accounts shall be opened for individuals/partnership firms/private and public limited companies/HUFs/Specified associates/Societies/Trusts &Limited Liability partnerships etc. There is no restriction as to number and amount of withdrawals subject to availability of balance in the account.

The Bank offers following conveniences:

  • Cheque book facilities
  • Monthly statement listing all banking transactions to help you track your finances
  • Interbranch withdrawals and deposits

This traditional account facility is available to:

  • Individuals (aged 18 years and above)
  • Business entities

Documents to be submitted by the customer for opening Current Account are:

Opening of Sole Proprietary Firms Account :

Customer shall be established through the production of an OVD and Permanent Account Number or Form No.60 as the case may be. For opening an account in the name of a sole proprietary firm, CDD of the individual (proprietor) shall be carried out. 1n addition to the above, any two of the following documents or the equivalent document thereof as a proof of business / activity in the name of the proprietary firm shall also be obtained:

  • Registration certificate 
  • Certificate / Licence issued by the municipal authorities under Shop and Establishment Act. 
  • Sales and income tax returns.
  • CST / VAT / GST certificate (provisional / final). 
  • Certificate / registration document issued by Sales Tax / Service Tax / Professional Tax authorities. 
  • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT / Licence / certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute. 
  • Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated / acknowledged by the Income Tax authorities. 
  • Utility bills such as electricity, water, and landline telephone bills. 
  • In cases where the Bank is satisfied that it is not possible to furnish two such documents, Bank may, at their discretion, accept only one of those documents as proof of business / activity. Provided Bank undertakes contact point verification and collect such other information and clarification as would be required to establish the existence of such firm, and shall confirm and satisfy itself that the business activity has been verified from the address of the proprietary concern.

Opening of COMPANY ACCOUNT

  • Certificate of incorporation; 
  • Memorandum and Articles of Association;
  • Permanent Account Number of the company; 
  • A resolution from the Board of Directors and power of attorney granted to its managers, officers or employees to transact on its behalf.
  • Documents, as specified for establishing the identity of an Individual, specified in Part-I shall be obtained relating to beneficial owner, the managers, officers or employees, as the case may be, holding an attorney to transact on the company‘s behalf.

Opening  of  Partnership Firm Account

  • Registration Certificate               
  • Partnership deed 
  • Permanent Account Number of the partnership firm
  • Documents, as specified in Part-I, relating to beneficial owner, the managers, officers or employees, as the case may be, holding an attorney to transact on its behalf.                                     

 Opening an Account of  TRUST

  • Registration certificate
  • Trust deed
  • Permanent Account Number or Form No.60 of the trust; and 
  • Documents, as specified Part-I, relating to beneficial owner, the managers, officers or employees, as the case may be, holding an attorney to transact on its behalf.

Opening an account of  Unincorporated Association or a  body of individuals

  • Resolution of the managing body of such association or body of individuals  
  • Permanent account number or Form No.60 of the unincorporated association or a body of individuals;
  • Power of attorney granted to transact on its behalf
  • Documents, as specified in Part-I, relating to beneficial owner, the managers, officers or employees, as the case may be, holding an attorney to transact on its behalf 
  • such information as may be required by the Bank to collectively establish   the legal existence of such an association or body of individuals.

 Explanation: Unregistered trusts / partnership firms shall be included under the term ‘unincorporated association’. Explanation: Term ‘body of individuals’ includes societies. 

 Opening an account of Hindu Undivided Family 

  • Identification information as mentioned under Part-I in respect of the Karta and Major Coparceners, 
  • Declaration of HUF and its Karta,
  • Recent Passport photographs duly self-attested by major co-parcen.
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