Yes, Current Accounts can be transferred from one branch to another. However, there are certain restrictions. Please visit your nearest branch for details.tity
NRI/PIO can open the proprietorship/partnership firm subject to following customer declaration (which needs to be taken from the customer):
- Amount is invested by inward remittance or out of NRE/FCNR/NRO account maintained with AD bank (from the Current Account of the customer).
- The firm or proprietary concern is not engaged in any agricultural/plantation or real estate business (i.e. dealing in land and immovable property with a view to earning profit or earning income there from) or print media sector.
- Amount invested shall not be eligible for repatriation outside India.
The above should be clearly mentioned in the declarations given by the customer.
Partners must be major (above the age of 18), should be sane and should not be disqualified by law from entering into a contract.
Yes. Documentation will be that of an individual, i.e. identity proof and address proof.