(a) Current Accounts can be opened by individuals, partnership firms, private and public limited companies, societies, trusts, etc. The Current Account holders are eligible for ATM and ABB (Any Branch Banking) facility.
(a) As required by law, while opening this account, the Bank will satisfy itself about the identity, including verification of address, of a person/s seeking to open an account, to assist in protecting the prospective customer/s, members of the public and ourselves against fraud and other misuses of recent photographs of the person/s opening / operating the account, as per R B I directives of the banking system.
(b) The Bank is required to obtain Permanent Account Number (PAN) or alternatively obtain declaration in Form No.60 or 61 as per the Income Tax Act (vide Section 139 A) from the person/s opening the account (i.e. including partners of Registered / Unregistered partnership as also Registered / Incorporated bodies / companies).
(c) The Bank will provide the prospective customers details of the documents required for identification of the person/s opening the account in addition to a satisfactory introduction. Documents normally accepted are the current link based gas / telephone / electricity bill or voter’s identity card or driving licence or passport etc.
(d) Minimum balance as stipulated from time to time will be required to be maintained.
(e) No interest is paid on credit balances kept in current account.
(f) Service charges are levied for Ledger folio used, Cheque books issued, Non-maintenance of minimum balance, Return of cheques etc