Which account is to be opened for gov schools..current or saving

Which account is to be opened for gov schools..current or saving

 

Create a corporate cif for school name, n individual cif for d ac holder.

 

Current ac will be opend otherwise bank will pay intt to gov ac

 

Create a non personal cif of school. Open the savings a/c with it. Then link the cif of teacher-in-charge and secretary/board president as per mandate.

 

Wt does the rbi cicular says?Have read it somewhere that gov bodies account should be curnt acnt.

 

Yes. But non profitable organization can open savings a/c too.

 

Read the RBI notification for such account https://www.rbi.org.in/.../scripts/Notification.aspx...

 

Who will give authorisation letter in case of gov school

 

Whatever u get mandate from customer. Do it. Nahi toh open saving account

 

Non personal saving account or current account as mention in authority letter issued by Block education officer .

 

Most of the bank's current account have minimum balance requirement... How to address this issue bcoz during closing every govt account needed to be zero...moreover is there any RBI circular??

 

How can be get rid off from min balance charge and account keeping charges in SBI if account is opened as CA.

 

Current account with no deduction of any charge.....Means with waivement of charges

 

What is the product code in which no charges applicable??

 

While opening of account... Select collect charges flag No.

 

Government schools get grant from govt for their salary and other expenses.they can not earn interest on this grant.so open current account.if there employees PF account is there then open SB account for PF.and invest in FD without TDS

 

For opening saving u should aquire the mamlatdars letter from the teachers concern

 

In theory it should be ca but in practical it is sf account