Government departments or semi Government departments need a bank account to carry out the financial transactions of the departments. Government business like Salary payments, Pension payments,Fee collection, tax collection,PPF, Sukanya samriddhi, Senior citizen savings scheme,etc.are routed through banks.Most of the public sector banks eying for government business as they they get huge amount of deposits and also earn commission for government business.
The The following documents are generally needed for opening accounts of Government/Semi Government departments.
(a) Copy of the Letter of Authority by the Head of the Department, permitting the Executive/official of the institution/department to open an account
(b) A copy of the Government Notification / Order authorising the concerned official to open and operate the account.
(c) A certified copy of the Rules and Regulations, if any, framed by the Department / Local body regarding the powers of such Executive Officer who are opening and operating Bank accounts.
Documents required from authorised signatories
Proof of identity – PAN card, voter ID card, passport, driving license
Proof of address – Latest telephone bill or electricity bill