Current Deposit

Current Account is a Non-Interest bearing bank account Mainly used to service the needs of the Business, current accounts is ideal for all business transactions.

Eligible to operate a Current Account

Individual – Single / Joint account
Hindu undivided family
Sole Proprietorship firm
Partnership firm
Limited company – Private / Public
Trust / Club / Registered / Unregistered Society / Association
Government / Semi – Government Bodies / Department

Salient features of the scheme

A regular current account for business / corporate customer Minimum opening balance Rs.3000/-

Cheque book at nominal price
DEBIT Card facility
Account statement facility (duplicate statement charges applicable)
Mobile Banking facility.
Fund transfer facility through IMPS/RTGS/NEFT anywhere in India
ATM/POS
Any branch banking facility.

Basic Documents

Duly completed account opening form
Aadhaar/Aadhaar Enrolment Number
- Pan card/FORM 60- if, no Pan card
- Proof of residence of the applicant(s)
- Proof of Photo Identification of the applicant(s)
- Two recent passport size colour photographs of Partner(s) / Director(s)
- Introduction by an existing customer, whose account is at least 6 months old OR In case institution, submit following constitutional documents
- Company : Memorandum & Articles of Association, ResolutionPartnership Firm : Partnership Deed, Registration receiptTrust : Trust Deed, Resolution
- HUF :HUF Deed, Co-partner letter.

Know Your Customer (KYC) norms
The prospective account holder should comply with the ‘Know Your Customer (KYC)’ norms by producing one or more of the following documents in support of identity and address:

Accounts of companies	(All following documents to be obtained) Certificate of Incorporation Memorandum & Articles of Association. PAN No of the Firm. Resolution of the Board of Directors and power of Attorney granted to its managers,officers ot employees to transact on its behalf: and Aadhaar number/ Aadhaar Enrolment Number and PAN */ FORM60 of the managers, officers or employess holding an attorney to transact on its behalf with his/her photograph.
Accounts Of Sole Proprietary firms	(Any two of the following documents to be obtained) Proof of the name, address and activity of the concern, like registration certificate (in case of registered concern), Certificate of / license issued by the muncipal authorities under Shop & Establishment Act, GST and income tax returns, Certificate/ registration document issued by GST/Professional Tax authorities. License issued by the Registering authority like certificate of Practice issued by Indian Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc. Registration/ licensing document issued in the name of proprietary concern by the Central Government or State Government Authority / Department, IEC(Importer Exporter Code) issued to the proprietary concern by the office of DGFT as an Identity document. The complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly Aythenticated/ Acknowledged by the Income Tax Authorities. Utility bills such as electricity, water and landline telephone bills (Not more than two months old) in the name of the proprietary concern. OR In case where the branches are satisfied that it is not possible to furnish two such documents, they would have the discretion to accept only one of those documents as activity prrof. In such cases, the branches would have to indertake contact point verification, collect information to establish the existence of such firm, confirm, clarify and satisfy that the business activity has been verified from the address of the proprietary concern AND Aadhaar Number/ Aadhaar Enrolment Number and PAN/ FORM60 of the proprietor.

Accounts of companies

(All following documents to be obtained)

Certificate of Incorporation
Memorandum & Articles of Association.
PAN No of the Firm.
Resolution of the Board of Directors and power of Attorney granted to its managers,officers ot employees to transact on its behalf: and
Aadhaar number/ Aadhaar Enrolment Number and PAN */ FORM60 of the managers, officers or employess holding an attorney to transact on its behalf with his/her photograph.

Accounts Of Sole Proprietary firms

(Any two of the following documents to be obtained)

Proof of the name, address and activity of the concern, like registration certificate (in case of registered concern),
Certificate of / license issued by the muncipal authorities under Shop & Establishment Act,
GST and income tax returns,
Certificate/ registration document issued by GST/Professional Tax authorities.
License issued by the Registering authority like certificate of Practice issued by Indian Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc. Registration/ licensing document issued in the name of proprietary concern by the Central Government or State Government Authority / Department, IEC(Importer Exporter Code) issued to the proprietary concern by the office of DGFT as an Identity document.
The complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected, duly Aythenticated/ Acknowledged by the Income Tax Authorities.
Utility bills such as electricity, water and landline telephone bills (Not more than two months old) in the name of the proprietary concern. OR
In case where the branches are satisfied that it is not possible to furnish two such documents, they would have the discretion to accept only one of those documents as activity prrof. In such cases, the branches would have to indertake contact point verification, collect information to establish the existence of such firm, confirm, clarify and satisfy that the business activity has been verified from the address of the proprietary concern AND
Aadhaar Number/ Aadhaar Enrolment Number and PAN/ FORM60 of the proprietor.

Accounts of partnership firms(Registered)	(All following documents to be obtained)
	Registration certificate, Partnership deed: and PAN of the Firm, Aadhaar Number/ Aadhaar Enrolment Number and PAN/ FORM60 of the personholding an Attorney to transact on its behalf with his/her photograph.

Accounts of trusts & foundations	(All following documnets to be obtained)
	Registration Certificate, Trust Deed: PAN of Entity Aadhaar Number/ Adhaar Enrollment Number and PAN/ FORM 60 of the Trustees, settlers,beneficiaries and persons holding Power of Attorney, Founders/Managers Directors/Signatories with his/her photograph.

Accounts of Unincorporated Associations or body of individuals/Society/Clubs.

For unregistered entities (whether partnership firm, trusts,foundations etc)

(All following documents to be obtained)

Resolution of the Managing body of such association or body of indivisuals.
PAN
Power of Attorney granted to transact on its behalf.
Aadhaar Number/ Aadhaar Enrolment Number and PAn/ FORM60 of the office bearers / Signatories and persons holding power of Attorney, if any with his/her photograph in respect of the person holding and Attorney to transact on its behalf.
Any one of the below mentioned list of documents to collectively establish the legal existence of such an associations or body of individuals.
Partnership Deed/Trust Deed
Certificate of license issued by the muncipal authorities under shop & Establishment Act.
GST Returns.

Certificate/registration document issued by GST/ Professional Tax authorities.

License issued by the Registering authority like certificate of Practice issued by Indian Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities etc.
The Complete Income Tax return (not just the acknowledgement) in the name of Sole Proprietor where the Firm’s income is reflected duly Authenticated/ Acknowledged by the Income Tax Authorities.

Introduction

The prospective account holder should be introduced by a third party, acceptable to the Bank.

Cheque book facility

All current account holders are provided with cheque books, collecting the cost of such cheque books

Inoperative Accounts

If the account is not operated by the account holder, the account will be transferred to ‘Inoperative Account’ on completion of 24 months from the date of last operation

Review of inoperative accounts

Inoperative account shall be reviewed by the Bank at its discretion to bring back to the ‘Operative Status’, if the account holder requests in writing duly complying with KYC norms like furnishing of latest passport size photograph, address proof in support of address given, latest specimen signature with operation instructions etc

Dormant Accounts

If an account in ‘Inoperative’ status is not operated in the parent branch by the account holder, the said account will be treated as ‘Dormant Account’ on completion of 36 months from the date of previous operation by the customer in inoperative status or on account of becoming ‘Inoperative’ whichever happens later. Such ‘Dormant Accounts’ are not eligible for operations therein by the customer nor for review for bringing the account back to ‘Operative’ status. However, the entire balance in the ‘Dormant Account’ can be claimed by the account holder in the base branch personally by submitting a written application, establishing his / her identity and surrendering the unused cheque leaves, if any

Interest and charges

No interest will be paid on Current Account.
Bank reserves the right to levy service charges on current account from time to time on various counts, which is presently as under:
* Minimum of Rs.100/- and thereafter Rs.10/- per page for every half yearly.