Yes, the Co-Op Housing Society can open a society account in Axis Bank and deposit a fixed amount for certain period.
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Hey there,
To answer your first question, yes, a co-op housing society can open an account in Axis Bank under the Trust NGO Institutional Savings Account or FCRA Account. And to answer your second question, yes, a society can deposit a fixed amount for a certain period in such an account with zero balance or no charge account. But the society must be registered under the Societies Registration Act of 1860 or any other comparable statute in force in a State or a Union Territory (except societies registered under the State Co-operative Societies Acts and specific state enactment creating Land Mortgage Banks).
I hope I was able to answer your question.
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Authors Of The Question
1.can co-op housing society open society account in axis Bank.2.can society deposit a fixed amount for certain period
Gaud Chandrashekhar
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2 Answers
2 Year
2022-06-03T18:06:41+00:00 2022-06-06T11:35:57+00:00Comment
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