1.

WHO CAN OPEN CURRENT ACCOUNT?

1. Individual in personal capacity

2. Individuals in joint names

3. Partner / Sole proprietorship firms

4. Non-individual accounts such as companies, organisation, Corporations, clubs, societies, etc.

2.

WHO CANNOT OPEN A CURRENT ACCOUNT?

1. Minor

2. Mentally retarded person

3. Illiterate person (singly)

4. Non-residents

5. Pardanasin lady

3.

FORMALITIES FOR OPENING AN ACCOUNT

1 Application Form

2 Introduction

3 Proof of residence

4 Photograph

5 Aadhaar Number

6 Mobile Number

7 E-Mail Id

4.

FOR COMPANY ACCOUNTS

1 Board Resolution

2 Memorandum of Association

3 Articles of Association

4 Certificate of Incorporation

5 Certificate of Commencement of Business (for public limited companies)

5.

MINIMUM BALANCE

1 For individuals : Rs.5,000/-

2 For institutions: Rs.5,000/-

6.

FACILITIES

1 No restriction on number of operations in the account

2 Nomination (for personal and sole proprietorship accounts)

3 Collection of cheques, bills, drafts