Entities eligible for maintaining Trust/NGO/ Institutional savings account-
- Primary Co-operative Credit Society (which is being financed by the bank)
- Khadi and Village Industries Boards
- Agriculture Produce Market Committees
- Societies registered under the Societies Registration Act, 1860 or any other corresponding law in force in State or a Union Territory (except societies registered under the State Co-operative Societies Acts and specific state enactment creating Land Mortgage Banks)
- Section 25 Companies (as per Companies Act, 1956) or Section 8 Companies (as per Companies Act,2013)
- Institutions/entities whose entire income is exempt from payment of Income-tax under Income-Tax Act, 1961
- Government departments/bodies/agencies in respect of grants/ subsidies released for implementation of various programmes/ schemes sponsored by Central/State Government (subject to production of an authorisation from the respective Government departments to open savings bank account)
- Development of Women and Children in Rural Areas (DWCRA)
- Self-help Groups (SHGs), registered or unregistered, which are engaged in promoting savings habits among their members
- Farmers' Clubs - Vikas Volunteer Vahini – VVV
General Documentation for opening Savings Account of Trust/NGO
- Registration Certificate of Trust / Society / Association/ Club
- Trust Deed / Bye-laws / Constitutional Document (If unregistered, notarized copy to be obtained)
- Copy of PAN Card
- Income Tax registration u/s 12A for entities as specified in RBI circular
- Certified copy of resolution for opening and operating of the account
- Duly authenticated list of current Trustees / Office bearers on the letter head of the entity
- Address proof of the entity
- Beneficial Ownership declaration
- KYC documents of the authorized signatories
