General Banking

General Banking consists the management of deposit, cash, clearing house, bills, account opening, security instruments handling, customer services, locker facilities and other ancillary services of the bank besides Advance and Foreign Trade.

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General Banking Services-

Types of Deposits

Deposit is the major source of fund for commercial banks. The deposit-mix may be categorized in the following manner

(a) No-cost deposit

(b) Low-cost deposit

(c) High-cost deposit.

Opening of bank account requires different types of prescribed forms/ documents for different nature of accounts. The account-holders or authorized signatories are allowed to operate their bank account on the basis of instruction given by them at the time of opening of account.1.      Individual:

An individual can open an account under the following terms and conditions:

01.Name of the branch and date
  1.  Account number
03.Name of the account: in Bengali and in English (capital letter) 04.Type of account
05. Father’s name 06. Mother’s name
07. Husband / Wife’s name 08. Currency
09. Special Instruction of the account holder 10. Present address
11.Permanent address 12. Date of birth
13. Occupation 14. National ID number
15. Passport number, if any 16. Driving license, if any
17.Tax ID number (TIN) 18. Vat registration number, if any
19. Other accounts of the customer, if any 20. Introducer’s details
21.Two copies of photograph attested by the introducer 22. Initial deposit
23. Nominee Information 24. Source of Fund
25. KYC profile form 26. TP (transaction profile)
27. Declaration and Signature 28. Signature of the Authorised Officer
29. Specimen Signature Card 30. Cheque Requisition Slip
31. Other Terms and Conditions

2.   Joint Account:

1. The account should be opened only on receiving application signed by all persons.

2. The Bank should obtain specific directions as to whether one or more of the joint accountholders shall operate the account.

3. A joint account holder cannot delegate his authority to operate the account

4. When the intention is that all joint accountholders should jointly operate the account: the account shall be operated by all jointly.

5. When the intention is that any one can operate the account: the account shall be operated by either or survivor.

6. In case of partnership firm the clause will be : All partners to operate jointly or Any one partner can operate the account.

7. The authority of operation in the joint account shall stand automatically revoked on account of death, insanity or insolvency of any person giving the authority.

8. In case of death of one or more joint accountholders, any balance in the account is payable to the legal representative.

9.In case of a joint accountholder dies while the account is showing a debit balance, his legal representative jointly with the surviving joint accountholders remain liable for the debt.

10. Any other formalities as contained under Individual account will be applicable.

3. Sole-Proprietorship Firm:

A sole-proprietorship firm is a business concern carried on by an individual owner in a trade name.

Formalities/ Guidelines:

(a) The title of the account shall be in the name of the business establishment;

(b) A declaration should be obtained from the owner of the firm to the effect that he is the sole- proprietor and no other person has any interest in the business as partner or otherwise.

(c) The declaration should also contain that the owner, as the proprietor, will be personally liable for all dealings and obligation in the name of the business.

(d) Specimen signature should be obtained on the specimen signature card.

(e) Seal of the proprietor of the firm to be affixed.

(f) Other formalities:

4. Partnership Firm:


Partnership arises of the contract between persons and by virtue of this contract , they associate themselves with a business.

Formalities and Guidelines:


(a) The title of the account should be in the name of the firm.

(b) Special Instruction should be specific in the account opening form.

© The Authorized persons should sign on the specimen signature card.

(d)  The letter of partnership should be signed by all the partners to the effect that they are jointly and severally liable for the debts of the firm.

(e) Valid Trade License.

(f) Partnership deed ( if registered, registration certificate to be obtained).

(g) VAT Registration ( if any).

(h) Any partner, on behalf of the partnership firm, is empowered to sign on the document.

(i) Any partner, on behalf of the partnership firm, is authorized to borrow money.

(j) A partnership firm is dissolved on the death, insanity and insolvency of a partner.

(k) A partner relinquishes his responsibility on being retired.

(l) Other formalities as stated under proprietorship firm.


5. Joint Stock Company:

A company means a company formed and registered under Companies Act 1913 as revised in 1994.   


Types of Company: 

(a) Private Limited Company

(b) Public Limited Company

1  Company Limited by Shares

2 Company Limited by Guarantee

Formalities and Guidelines:

(a) The title should be in the name of the company.

(b) Special Instructions should be specifically spelled out in the application form as per resolution of the board / Memorandum of Association.

© Signature of the Authorized Person as per resolution of the board / Memorandum of Association.

(d) Memorandum of Association.

(e) Articles of Association.

6. Club, Society, School, College, University etc.

Formalities and Guidelines:

(a) The title should be in the name of the respective institution.

(b) Rules / By-laws of the institution.

© Copy of Resolution of meeting of Managing Committee / Governing Body for operation in the account.

5. Autonomous / Local Bodies:

Formalities and Guidelines:

(a) The title should be in the name of the respective authorities.

(b) Special Act or Statutes should be referred to regarding formation and constitution of the organization.

© Specific Instructions should be noted for selection of bank regarding dealing with its funds.

(d) Specific Rules and Special Instructions regarding mode of operation of the account.

Panama Banks

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3 Responses to General Banking

  1. Arogundade says:

    What are the cost of banking operation

  2. I agree ur Job Apply Now

  3. B.Dharsha says:

    I need more details about the banking

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