WHO CAN OPEN CURRENT ACCOUNT?

# Individual in personal capacity

# Individuals in joint names

# Partner / Sole proprietorship firms

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

WHO CANNOT OPEN A CURRENT ACCOUNT?

# Minor

# Mentally retarded person

# Illiterate person (singly)

# Non-residents

# Pardanasin lady

FORMALITIES FOR OPENING AN ACCOUNT

# Application Form

# Introduction

# Proof of residence

# Photograph

# Aadhaar Number

# Mobile Number

# E-Mail Id

FOR COMPANY ACCOUNTS

# Board Resolution

# Memorandum of Association

# Articles of Association

# Certificate of Incorporation

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

MINIMUM BALANCE

# For individuals : Rs.1,000

# For institutions & Socieities : Rs.5,000

FACILITIES

# No restriction on number of operations in the account

# Nomination (for personal and sole proprietorship accounts)

# Collection of cheques, bills, drafts