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Saturday, April 24, 2010

DEPOSIT ACCOUNTS - GENERAL ASPECTS

A person, desirous of opening a deposit account in a bank, has to fill up and sign the prescribed account opening/application form and furnish.
• introductory reference of an acceptable person,
• acceptable proof of his/her identity and residential address,
• his/her photographs, and
• initial deposit of an amount not less than the prescribed minimum (Initial deposit could vary from bank to bank and ranges from Rs 500 to Rs 10,000 depending on whether an account is to be operated by cheque or otherwise)

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