Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
A Savings Bank account, commonly referred to as an SB account, is a type of demand deposit account designed to facilitate frequent financial transactions. These accounts are primarily used by…
The closure of a bank account requires adherence to specific procedures to ensure compliance with banking regulations and institutional protocols. The following outlines the steps and requirements involved in the…
Current accounts or SB accounts may be transferred from one branch of a bank to another without incurring any charges. When an account holder wishes to initiate such a transfer,…
Every applicant for opening current account must provide specific documents relevant to their entity type. Additionally, banks are required to perform a comprehensive Know Your Customer (KYC) verification for the…
Generally, anyone who is of legal age (18 years or older) and meets the bank’s eligibility criteria can open a savings account. Minors can also open savings accounts, usually through…
Current accounts or SB account not operated during the past six months will be treated as dormant accounts. In March every year all dormant accounts in which there had been…
The documentation necessary to open a current account varies based on the legal structure of the business entity—whether it is a sole proprietorship, partnership firm, company, trust, society, or government…
Settlement of Claims in Respect of Missing Persons Presumed Dead: A Formal Overview Banks in India typically settle claims related to missing persons who are presumed dead by adhering to…
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…
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