V.E.C Account Opening.
Home › Forums › Management › V.E.C Account Opening.
- This topic is empty.
-
AuthorPosts
-
March 6, 2012 at 2:34 pm #67229
Anonymous
InactiveSir,
as per resolution of our V.E C . We want to open a new Bank Account at our nearest Branch Kotulpur of U Co Bank.This account will be operate three Designated Persons 1. Secretary 2. Chairman & 3. Engineer of the Concern C.L.R.C. Branch authority advised to submit Ration Card, PAN Card, Voter Card & 3 copies of Photograph (each Persons).
I think Its a Govt. Account. Do you Think it is mandatory ? Please Help me. With regards.March 13, 2012 at 1:20 pm #71583InactiveI think this SHOULD NOT BE mandatory! but in banking sector there is a subject called BANKING LAW & PRACTICE! this is a practice of the managers! Being an administrator & DDO of many school i faced the same problem! at last i accept as the PRACTICE!
March 13, 2012 at 1:51 pm #71584InactiveWhen the Account is to be opened as per resolution of V.E.C. and it will be handled by the respective chairs not persons, Bank cant claim for personal documents as the person may be changed at any time. Have you disclosed the entire matter to the Banking authority?
March 13, 2012 at 1:59 pm #71585InactiveReserve Bank of India made KYC (Know Your Customer) mandatory for Anti Money Laundering and Combating the Financing of Terrorism.
Where customer is defined as a person / an entity who undertake transaction or on whose behalf the transaction is made.
So, here in this case all the three signatories have to be KYC compliant. To be KYC compliant three documents are required along with the KYC Forms:-
i) Identity Proof (e.g. Voter Id)
ii) Address Proof (e.g. Ration Card)
iii) Signature Proof (e.g. PAN Card)
In the prescribed form photograph of individual is to be pasted and duly signed.
Here is the RBI Guidelines:March 13, 2012 at 2:02 pm #71586InactiveDear Som,
I think the change in signatories must be informed to the Bank authority and again the new signatories have to complete KYC norms.March 13, 2012 at 3:56 pm #71589InactiveThanks for uploading the valuable guidelines but I am sorry as I would like to continue the topic or debate as you think . KYC cant be mandatory for Govt sector as the very purpose of KYC is to prevent those as you said earlier. There is a Govt account also possed by our office and as far my knowledge is concerned there is no KYC required for that account. Ofcourse The specimen signature of the chair person is required to be sent when a new Officer joins. I cant read the the guidelines right now as I am now in a mobile. Later I shall have a look to find that whether its mandatory for Govt sector or not.
March 14, 2012 at 5:11 pm #71599InactiveI want to give an example, in case of Service Association when the signatories change after Annual General Meeting (AGM), then the existing signatories intimate the bank in writing with association’s resolution, a fresh copy of registration certificate of the association along with KYC documents for the new signatories. After receiving all these documents bank update their records. This is not Govt. account as well but somehow the case is similar. (Association is represented by Treasurer, Secretary, President etc. as the case may be).
April 8, 2012 at 7:26 am #71910InactiveOrder copy of V.E.C. account opening.
Dear Friends,
As Per resolution of our V.E.C. as a secretary of the V.E.C. ( village Education Committee ) I want to open a V.E.C. account (savings) for our V.E.C.at local branch of U C O Bank.Now Bank authority claimed an order copy of the same issued by S.S.M or any . According to Bank authority, copy of the V.E.C. resolution is not enough.
My earnest request to the forum friends, Please post an order copy As early as possible. I am awaiting now. With thanks.April 8, 2012 at 12:31 pm #71912InactiveHi friend. “CLICK HERE”. to download “The SSA Frame work (Revised on 09-06-2011).”
Please have a look at the following:
Page No. 145
under planning , appraisal and Fund Flow mechanisms
Rule 9.8.2 The district plan should provide evidence of
Availability of Joint Bank accounts in each school/VEC/School Management Committees to receive community
contribution and to spend government grants.
………………………………………………………………………………………………………………………
Page No. 244 & 250
The State society should open a separate savings bank account for operating of funds of NPEGEL. State Government should also release its matching share to the State SSA society through a separate budget head. Separate accounts will have to be maintained at district and sub-district structures, accordingly.
………………………………………………………………………………………………………………………
Its a large file and may take a long time to download. I could break it to the relevant portion but didnt do that being worried as the Banging authority is not co-operating you.
Best of luck.April 8, 2012 at 1:40 pm #71914InactiveMy earnest request to the forum friends, Please post an order copy As early as possible.
friend, som posted the SSA Framework. I think it may be helpful. However, Bank authority should not ask for G.O. while assisting to open an account.
-
AuthorPosts
- You must be logged in to reply to this topic.