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:

1. Registration of Bank / Society
2. Bye-laws of Bank / Society
3. Permission to carry on Banking Business in case of a bank
4. Resolution of Board of Directors to open Current Account with MSCB, and authority to office bearers to operate the said Current Account
5. Name of office bearers and their specimen signatures.
6. List of Directors & their addresses in case of co-operative Bank
7. Annual Report of the concerned institutions
8. Account could be opened with initial amount of Rs. 5000/-
9. Minimum balance of Rs. 5000/- should be maintained

Requirements for opening current account of individual:

1. PAN / GIR Number, Form No. 60
2. Telephone Bill, Electricity Bill.
3. Two Photographs.
4. Account could be opened with initial amount of Rs. 1500/-
5. Minimum balance of Rs. 1500/- should be maintained
   

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