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Documents required for opening of Current Account

Following documents are required to be submitted by different types of entities for opening of current account. Originals of documents for reference and verification are required to be presented and certified true copies to be submitted for bank’s record;

Proprietary concern

Any two of the followings;

(They should be in the name of the proprietary concern)

  • Registration certificate (in the case of a registered concern)
  • Certificate/licence issued by the Municipal authorities under Shop & Establishment Act
  • Sales and income tax returns
  • CST/VAT certificate
  • Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
  • Licence issued by the Registering authority like Certificate of Practice issued by 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, registration/licensing document issued in the name of the proprietary concern by the Central Government or State Government Authority/ Department, etc.
  • IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT
  • The complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected duly authenticated/ acknowledged by the Income Tax Authorities.
  • Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern.

Partnership firm

  • Registration certificate
  • Partnership deed
  • Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf
  • Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses
  • Telephone bill in the name of firm/partners

Companies

  • Certificate of incorporation and Memorandum & Articles of Association
  • Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account
  • Power of Attorney granted to its managers, officers or employees to transact business on its behalf
  • Copy of PAN allotment letter
  • Copy of the telephone bill

Trusts & foundations

  • Certificate of registration
  • Power of Attorney granted to transact business on its behalf
  • Any officially valid document to identify the trustees, settlers, beneficiaries and those holding Power of Attorney, founders/managers/ directors and their addresses
  • Resolution of the managing body of the foundation/ association
  • Telephone bill

In addition to the above, account opening form, customer information form, letter of proprietorship / partnership (as applicable), declaration regarding accounts / facilities with other branch / bank etc. duly filled in and authenticated are required to be submitted.

Documents in proof of identity and addresses of the individual/s involved as proprietor / partners / directors / trustees / authorized signatories etc. are also required to be submitted, as required under KYC norms, as below;

Proof of identity (any one of the following)

  • Passport
  • PAN card
  • Voter’s Identity Card
  • Driving License
  • Job Card issued by NREGA duly signed by an officer of the State Govt
  • The letter issued by the Unique Identification Authority of India ( UIDAI) containing details of name, address and Aadhaar number
  • Identity card (subject to the bank’s satisfaction)
  • Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank

Proof of Address (any one of the following)

  • Telephone bill
  • Bank account statement
  • Letter from any recognized public authority
  • Electricity bill
  • Ration card
  • Letter from employer (subject to satisfaction of the bank)
  • A rent agreement indicating the address of the customer duly registered with State Government or similar registration authority.

In case any document alone suffices the purpose of both identity and address, no separate documents for the same shall be required.