Indicative Guidelines for filling up the Account Opening Form

List of Documents to be submitted according to the constitution (originals for inspection & return wherever applicable).

1. List of names and addresses of Partners/ Directors/ Trustees/ Managing Committee Members/ Karta and coparceners to be obtained.

a) Sole-Proprietorship Firm: Copy of legal status of the account holder evidencing the name of the account and sole proprietor’s name e.g. Trade License, Shop & Establishment Certificate etc.

b) Partnership Firm: Partnership deed and/or registration certificate/ partnership letter (A-5).

c) Joint Stock Companies: (i) Copy of Memorandum and the Articles of Association, (ii) Certificate of Incorporation, (iii) Certificate of commencement of business/Registration Certificate, (iv) Certified copy of the Resolution of Board of Directors.

d) Trust Accounts: (i) A certified true copy of the Trust Deed, (ii) Resolution signed by all the trustees, (iii) Certificate of tax-exemption, if any.

e) Clubs, Societies, Association : (i) Constitution & bye-laws, (ii) Certificate of Registration, (iii) A copy of the resolution certified & Other similar bodies as true copy by the Chairman and countersigned by the Secretary authorizing the opening and operation of the account and specifying mode of operation, (iv) Certificate of tax exemption, if any.

f) HUF: Letter to be filled up (A-7)

2) The person signing as introducer must be well known to the Bank/ existing account-holder for more than six months with satisfactory operations.

3) Please mention the mode of operation of the account and the names of officials with designation duly authorized to operate the account as per resolution.

4) Organizations/ bodies not permitted to open Savings Bank Accounts:

i. Government departments/ bodies depending upon budgetary allocations for performance of their functions.

ii. Municipal Corporations or Municipal Committees.

iii. Panchayat Samities.

iv. State Housing Boards

v. Water and Sewerage/ Drainage Boards

vi. State Text Book Publishing Corporations/ Societies.

vii. Metropolitan Development Authority

viii. State/ District level Housing Co-operative Societies.

ix. Any political party, which is or is deemed to be registered with the Election Commission.

x. Any trading/ business or professional concern, whether such concern is a proprietary or a partnership firm or a company or an association.

5) Organizations/ bodies permitted to open Savings Bank Accounts:

i. Primary Co-operative Credit Society, which is being financed by the Bank.

ii. Khadi and Village Industries Board.

iii. Agriculture Produce Market Committee.

iv. Societies registered under the Societies Registration Act, 1860 or any other corresponding law in force in state or a Union Territory.

v. Companies governed by the Companies Act, 1956 which have been licensed by the Central Government under Section 25 of the said Act, or under the corresponding provision in the Indian Companies Act, 1913 and permitted not to add to their names the words “Limited” or the words “Private Limited”.

vi. Institutions other than those mentioned in (4) above and whose entire income is exempt from payment of income-tax under the Income Tax Act, 1961.

vii. Government departments/ bodies/ agencies in respect of grants/ subsidies released for implementation of various programmes/ Schemes sponsored by Central Government/ State Governments subject to production of an authorization from the respective Central/ State Government departments to open savings bank account.

viii. Development of Women and Children in rural Areas (DWCRA).

ix. Self-help Groups (SHGs), registered or unregistered, which are engaged in promoting savings habits among their members.

x. Farmers’ Clubs – Vikas Volunteer Vahini – VVV