Sunday, May 18, 2008

Documents Required to open Local Authorities/City Corporation Account:

Following are the documents required to open the account:
  • Account Application Form supplied by the bank to be filled with detailed information
  • Certified copy of Statute/any other Law by which the body is created and governed
  • Resolution of Municipal Committee/Managing Body to open a bank account which must be certified/attested by the Chairman/Mayor/Competent Authority
  • List of Members of the committee/body duly attested/certified by the Chairman/Mayor/ Competent Authority
  • Transaction Profile to be filled indicating numbers of transactions will be made to this account on monthly basis
  • Proper identification documents of the authorized person
  • Passport size photograph of the authorized person duly attested
At the same time bank must follow the formalities of KYC guideline as well.

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