What are the different types of customers for whom deposit accounts can be opened in banks in India?

Aug 21st, 2016
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Learning objectives: After reading this study material, you will be able to get the required information about the following: • Various types of customers for whom the deposit accounts can be opened in commercial banks in India • Individual and joint • Clubs, associations, charitable institutions and trusts • Hindu undivided families • Partnership firms • Companies • Minors • Blind persons • Illiterate persons Background: • This study material has been prepared keeping in mind the information required by the student in understanding the various types of customers for whom commercial banks in India permit opening of deposit accounts • Once completed reading the information provided in this study material, the student gains confidence and courage to present any paper or answer questions in the examination about the types of customers who are permitted to open deposit accounts with commercial banks in India.

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What are the different types of customers for whomdeposit accounts can be opened in banks in India?Learning objectives:After reading this study material, you will be able to get the required information about thefollowing:Various types of customers for whom the deposit accounts can be opened incommercial banks in IndiaIndividual and jointClubs, associations, charitable institutions and trustsHindu undivided familiesPartnership firmsCompaniesMinorsBlind personsIlliterate personsBackground:This study material has been prepared keeping in mind the information required bythe student in understanding the various types of customers for whom commercialbanks in India permit opening of deposit accountsOnce completed reading the information provided in this study material, the studentgains confidence and courage to present any paper or answer questions in theexamination about the types of customers who are permitted to open depositaccounts with commercial banks in India. Definitely this study material will be anwilling to acquire knowledge on the relevant subject.Types of customers who are permitted to open deposit accounts withcommercial banks in India01. Individual and Joint:1When an account is opened in individual name, it is called as individual account. For examplean account opened in the name of JohnsonWhen an account is opened in joint names, the account is called a

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