Current Account
A Current Account is designed to support the day-to-day financial transactions of businesses, traders, professionals, and institutions. It provides a convenient and reliable banking solution for members who require frequent deposits and withdrawals to manage their regular financial activities.
At RashtrakutaSouharda Co-operative Society Limited, the Current Account offers a secure and efficient platform for handling business transactions while maintaining financial discipline. The account allows members to conduct transactions smoothly and maintain clear financial records through transparent account operations.
With a focus on reliability and member convenience, the society aims to support business growth and financial management by offering practical banking services tailored to the needs of entrepreneurs and organizations.
Current Account Highlights
- Designed for businesses, traders, and professionals
- Convenient account for frequent financial transactions
- Easy deposit and withdrawal facility
- Passbook facility for maintaining transaction records
- Individual, partnership, and institutional accounts permitted
- Secure and reliable banking support for business activities
Eligibility
Current Accounts can be opened by:
- Business owners and professionals
- Proprietorship firms
- Partnership firms
- Companies and institutions
- Trusts, associations, and organizations (as per society rules)
Documents Required
To open a Current Account, the following documents are generally required:
- Duly filled account opening application form
- Identity and address proof of account holder(s)
- Business registration or relevant establishment documents
- PAN card of the individual or entity
- Recent passport-size photographs
- Any additional documents required as per KYC norms
| Account Maintenance & Interest | |
|---|---|
| Minimum Balance (No Cheque Book) | Rs. 2000/- |
| Minimum Balance (With Cheque Book) | Rs. 2,000/- |
| Interest Calculation | Calculated on daily balance; Credited periodically |
| Modes of Operation | Single, Joint, Either or Survivor, Former or Survivor |
Inoperative accounts
Accounts in which there are no operations for a period of two years and above from the date of last operation will be treated as inoperative accounts. Service charge as prescribed by the bank will be levied on such accounts. if no operations are there for ten years amount will be transfer to DEAF account @ RBI.
The Bank reserves to itself the right to alter/add/delete the rules at any time. For this purpose, the Bank shall not require to give a separate notice to each account holder. All announcements of any change in the rules, displayed on the Bank’s Notice Board or published in the press/ Bank’s web site shall be deemed to be sufficient notice to all account holders.
Closure of account
Request for closure of account shall be in writing. The account holder shall return all unused cheque-leaves and Pass-book. He / She shall declare that all cheques issued by him / her on the account have been duly accounted for in the account before closure. In case of joint accounts, for closing the accounts, all the depositors should act in accordance with the instructions given at time of opening the account.
The bank reserves to itself the right to close any account, which in its opinion is not properly conducted or is otherwise undesirable for any reason. If the account is closed within one year from the date of opening, incidental charges as prescribed by the bank will be levied and deducted from the balance before it is paid.
