Central Bank Of India Rules And Regulations

Hii sir, I wants to know the Rules And Regulations for Opening an Saving Account of the Central Bank Of India ?

[sumit]

As you Asking for the Rules and Regulation of the for Opening an Saving Account of the Central Bank Of India the Rules and Regulation is given below


Savings Bank Accounts can be opened for eligible person / persons and certain organizations / agencies (as advised by Reserve Bank of India (RBI) from time to time)

Current Accounts can be opened by individuals / partnership firms / Private and Public Limited Companies / HUFs / Specified Associates / Societies / Trusts, etc.

Term Deposits Accounts can be opened by individuals / partnership firms / Private and Public Limited Companies / HUFs/ Specified Associates / Societies / Trusts, etc.


I) The joint account holders can give any of the following mandates for the disposal of balance in the above accounts :

i. Either or Survivor : If the account is held by two individuals say, A & B, the final balance alongwith interest, if applicable, will be paid to survivor on death of anyone of the account holders.

ii. Anyone or Survivor/s : If the account is held by more than two individuals say, A, B and C, the final balance alongwith interest, if applicable, will be paid to the survivor on death of any two account holders.


The above mandates will be applicable to or become operational only on or after the date of maturity of term deposits. This mandate can be modified by the consent of all the account holders.


J) A the request of the depositor, the Bank will register mandate / power of attorney given by him authorizing another person to operate the account on his behalf.


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