- The depositor(s) desiring to open any type of account in a bank shall submit an application on the prescribed form for opening an account with an initial deposit as prescribed by the bank concerned. The depositor(s) shall provide the required information correctly and submit the required documents thereon.
- The depositor(s) must be introduced as required.
- If for any reason an account is opened with incomplete documents or information, or if further information becomes necessary to obtain, the bank may at its discretion withhold operation in the account till information/documents are provided. In case of non-compliance of these requirements, the bank shall have the right to close such an account without any notice.
- The bank reserves its right to refuse to open an account without assigning a reason.
- Each account shall be allotted a distinctive number.
- Only one account in a particular type (PLS/Current Account/Term Account etc) can be opened in the same name.
- An introducer is required as a must for opening an account. The introducer should be well known to the depositor(s) for the last six month.