ACCOUNTS OF ILLITERATE PERSONS:The Bank may at its discretion open deposit accounts other than Curr

ACCOUNTS OF ILLITERATE PERSONS:The Bank may at its discretion open deposit accounts other than Current Accounts of illiterate person. The account of such person may be opened provided he/she calls on the Bank personally along with a witness who is known to both the depositor and the Bank. Normally, no cheque book facility is provided for such Savings Bank Account. At the time of withdrawal / repayment of deposit amount and/or interest, the account holder should affix his / her thumb impression or mark in the presence of the authorized officer who should verify the identity of the person. The bank will explain the need for proper care and safe keeping of the pass book etc. given to the account holder. The Bank official shall explain the terms and conditions governing the account to the illiterate person.No joint accounts of illiterate with literate persons will generally be opened by the Bank as illiterates are gullible and are prone to cheating by the literate in the guise of conducting their account. However, it may be allowed in case of joint accounts of husband and wife, and in the case of illiterates with genuine request.No current accounts and non-resident accounts will be opened in the names of illiterate persons. Also cheque books will not be issued to illiterate account holders.

 

@ loan recovery ki process batao, like koi farmer loan lia h but repay nahi kar raha tab kya karna h?