Pusad Urban Bank
 
Current Accounts
 
Current Accounts can be opened by Individuals / Businessmen / Proprietorship Firm/ Partnership Firms / Public or Private companies/ Educational institution,/ HUF/ Credit Co-Op Societies Etc requiring to do multiple or numerous business transactions. Customer can deposit or withdraw the amount as many times required.The Account may be open by depositing Minimum Rupes 2000/- and the balance is required to maintained is Rs.2000/- in the account. 

Documents Required
Duly filled in Account Opening Form with valid residential proof, PAN Number, Registration Certificate, Partnership Deed, Memorandum of Association as the case may be. 

Proprietorship firm 

1.Name of firm & type of business
  • Business license
  • Certificate of Registration
2.Business Address Proof & Telephone Number
  • Telephone Bill, M.S.E.D.C.L bill, As per address mentioned on Registration documents
3.Customer-I.D of Proprietor
  • PAN /GIR Card.
  • Driving License.
  • Election Card, or I Card issued by any Government department, Passport Size recent photograph, I.T.R. Document, Report from Business Circle, Any of the above documents.
4.Address Proof of Proprietor with Tel No
  • ElectricBill.
  • Letter from recognized public authority.
  • Telephone Bill. Any of the above documents.
5.Purpose & A/c Type
  • The proprietor should mention in the application form the purpose and type of account to be opened.
6. Introduction.
  • Introducer should certify that the affairs of the company are satisfactory and he recommends Company’s name to open the account. The Introducer should subscribe his signature with account & phone number in the account opening form.
7.Details of other Banker
  • If the customer is banking with any other Bank details of Bank/branch Account type, amount, period etc
8.Risk Category
  • To be Identified by the Branch-In-Charge
9.Authorization to open A/c
  • Prior to opening the account of the customer, Staff should verify that the Branch-In-Charge has accorded his approval on the account opening form under his signature, date and Office-seal
Company 

1. Legal Name of Company.
  • Certificate of incorporation and Memorandum & Articles of Association.
2. Authority, purpose & Type of account to be opened.
  • Resolution of the Board of Directors to open an account with purpose and Type of account to be opened with the Bank.
3. Principle Place of Business.
  • From the Certificate of Registration/ MOA/ AOA.
4. Address I.D.
  • Telephone Bill/ Electric Bill of company, Telephone/FAX no, or from MOA/AOA.
5. Operational Instructions.
  • Board Resolution/Power of attorney in Name and Designation of the official authorized to operate the account with their specimen signatures duly verified, attested and countersigned with ceiling on operations in amount and/or month/ quarter/ year.
6. Introduction.
  • Introducer should certify that the affairs of the company are satisfactory and he recommends Company’s name to open the account. The Introducer should subscribe his signature with account & phone number in the account opening form.
7. Income Tax Particulars.
  • PAN /GIR No ITR Returns.
8. Details of Directors.
  • Letter to be obtained from the company in respect of present board of directors, designations & addresses/ Phone/ Fax Numbers
9. Type of Business.
  • MOA/AOA or Financial Statements of the Company.
10. Details of other accounts if banking with other bank.
  • The Company should declare if they are holding account in other bank with details of bank and Type of account. Details of Account held in any of the branch of our Bank.
11.Business Status.
  • Report from Introducer/Banker if already banking with other Bank/Reputed Firms/Companies or from the Audit Report of the current Year.
12. Financial Data.
  • Financial Statements with latest Audit Report.
13. Authorization to open A/c.
  • Prior to opening the account of the customer, Staff should verify that the Branch-In-Charge has accorded his approval on the account opening form under his signature, date and Office-seal.
14. Risk Category.
  • To be identified by the Branch-In-Charge.
Partnership Firms

1. Legal Name.
  • Business License Certificate OR Registration Certificate OR Partnership Deed OR Letter of Partnership.
2. Address Proof.
  • Telephone Bill/ Electric Bill of the firm with Telephone/FAX no.
3. Partnership Type.
  • Partnership Deed/Letter of Partnership.
4. Authority, purpose & Type of account to be opened.
  • Resolution of the Board of Directors Or Letter signed by all partners to open an account with purpose and Type of account to be opened with the Bank
5. Operational Instructions.
  • Board Resolution/Power of Attorney/Letter of authority signed by all partners assigning any partner or an employee of the firm to transact business on its behalf. The name, designation in the firm should be stated in the document duly attesting the signature of such official with ceiling on operations in amount and/or month/ quarter/ year, if any. Any officially valid document identifying the partners and their addresses and the persons holding the Power of Attorney.
6. Names, Addresses of the Partners with Tel No.
  • Partnership Deed/letter/MOU Telephone Bill of Partners.
7. Type of Business Activity.
  • From Partnership Deed/MOU / Financial Documents.
8. Introduction Of The Customer.
  • Introducer’s certification that he has knowledge of the business transactions of the firm & he is personally acquainted with the Board Members. He should give his recommendation for opening an account with the Bank. The Introducer should subscribe his signature in the account opening form and state his own account No together with his phone number.
9. Income Tax Particulars.
  • PAN/GIR No ITR Return.
10. Business Status.
  • Report from the Introducer/Reputed Firm/Co/Banker if already Banking with any other Bank.
11. Details of other accounts if banking with other bank.
  • The Firm should declare if they are holding account in other Bank with details of Bank and Type of account.
12. Financial Data.
  • Latest Audited Financial Statements with Audit Report.
13. Authorization to open the A/c.
  • Prior to opening the account of the customer, Staff should verify that the Branch-In-Charge has accorded his approval on the account opening form under his signature, date and Office-seal.
14. Risk Category.
  • To be Identified by the Branch-In-Charge.
Trusts and Foundations

1. Legal Name & Constitution of Trust.
  • Certificate of Registration/Bye-Laws of Trust/Trust-Deed.
2. Authority, purpose & Type of account to be opened.
  • Resolution of the Managing Body/Board of Trustees giving details of type of account and purpose to open the account with Bank.
3. Operational Instructions.
  • Power of Attorney to operate the account on behalf of the Trust / Foundation with specimen signatures of officials duly attested and countersigned with ceiling specifications.
4. Details of Trustees/ founders/ beneficiaries.
  • Trust Deed/Letter from the President/Chairperson giving the details of Trustees/founders/beneficiaries.
5. Address Proof & Telephone numbers.
  • MSEB Bill/ Telephone Bill.
6. Business/ Purpose of Trust.
  • Trust Deed.
7. Names Addresses of all Trustees with Telephone No.
  • Letter of Trust signed by the Chairman/President.
8. Introduction.
  • Introducer should certify that he has knowledge of the Trust/Foundation etc & he is personally acquainted with the Board Members. He should give his recommendation for opening an account with the Bank. The Introducer should subscribe his signature in the account opening form and state his own account No together with his phone number.
9. Financial Data.
  • Latest audited Financial Statements with Audit Report.
10.Authorization to open the account.
  • Prior to opening the account of the customer, Staff should verify that the Branch-In-Charge has accorded his approval on the account opening form under his signature, date and Office-seal.
11. Risk Category.
  • To be Identified by the Branch-In-Charge.
Credit Co-Op Societies. 

1. Name.
  • Letter from Credit Co-Op Societies.
2. Address /Phone & Fax No of Bank/F.I.
  • Certificate of Registration with Co-Op Deptt.
3. Authority, purpose & Type of account to be opened.
  • Authority Letter With Resolution
4. Operational Instructions.
  • Letter from Societies giving Name, Designation of the officials authorized to operate the account with their specimen signatures duly verified, attested and countersigned with ceiling on operations in amount and/or month/ quarter/ year.
5. Authorization to open the Account.
  • Prior to opening the account of the customer, Staff should verify that the Branch-In-Charge has accorded his approval on the account opening form under his signature, date and Office-seal.
6. Risk Category.
  • To be Identified by the Branch-In-Charge.
Co-operative Institutions 

1. Legal Name.
  • Registration Certificate of the Society.
2. Address-Proof. Letter
  • from the Institution Or Address stated on the letter Head of the Institution.
3. Authority, purpose & Type of account to be opened.
  • Letter from the Institution authorizing the officer to open the account with the Bank with purpose and type of account to be maintained.
4. Operational Instructions.
  • Letter from Institution giving Name, Designation of the officials authorized to operate the account with their specimen signatures duly verified, attested and with ceiling on operations in amount and/or month/ quarter/ year.
 
 
 
       
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