Current Account is primarily meant for businessmen, firms, companies, public enterprises, etc. that have numerous daily banking transactions. Current Accounts are cheque operated accounts meant neither for the purpose of earning interest nor for the purpose of savings but only for the convenience of a business hence they are non-interest bearing accounts.
Passbook will be supplied to every savings bank depositor showing the number of his account name and address and transactions with date, amount, and particulars.
MINIMUM REQUIREMENT FOR OPENING CURRENT ACCOUNT
» In his/her name
» In the name of two or more persons
» Private/Public Ltd. Company
» Co-op. Societies, Institutions, and Associations
An initial cash deposit of Rs.500/- which balance should always be maintained in the Current Account.
» introduction by a person known and acceptable to the bank.
» Two copies of the latest photographs
» Proof of identity and residence and business proof
» Copy of PAN card with original for verification
The Bank reserves the right to alter, amend, rescind the rules from time to time.