Current Account can be opened by individuals, Co-operative
Institutions, Housing Societies.
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Can avail overdraft facilities on pledging Fixed Deposit
Receipts.
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Documents required while opening current account
of co-operative banks and societies:
- Registration of Bank / Society
- Bye-laws of Bank / Society
- Permission to carry on Banking Business in case
of a bank
- Resolution of Board of Directors to open Current
Account with MSCB, and authority to office bearers
to operate the said Current Account
- Name of office bearers and their specimen signatures.
- List of Directors & their addresses in case
of co-operative Bank
- Annual Report of the concerned institutions
- Account could be opened with initial amount of
Rs. 1000/-
- Minimum balance of Rs. 1000/- should be maintained
Requirements for opening current account of
individual:
- PAN / GIR Number, Form No. 60
- Telephone Bill, Electricity Bill.
- Two Photographs.
- Account could be opened with initial amount of
Rs. 500/-
- Minimum balance of Rs. 1000/- should be maintained
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