NOT REQUIRE TO MAINTAIN MINIMUM BALANCE FOR SAVING ACCOUNTS

Now News Network | 18 September 2018 | 19:35 IST

After Pradhan Mantri Jan Dhan Yojna, now days a new scheme has been launched to open a zero balance account in India. When the previews scheme had launched a huge of bank account was opening in all banks with zero balance. Holders are connect their PMJDY account to their gas cylinder distributor for subsidy. And also they getting benefit of that.

A new scheme has launched here to open new account with zero maintenance. As per RBI mandate, this is a mandatory declaration required to open a residents saving account. The Government of India has signed the Inter-Governmental Agreement with Internal Revenue Service (IRS) of the United States on July 9, 2015 to implement FACTA in India. FACTA (Foreign Account Tax Compliance Act) ia a United States Federal Law that requires non-US financial institutions to report to the Internal Revenue Service of US certain information about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest.

In this act, one can open a saving account anytime & anywhere through online, by simply using Aadhar Number and Pan details. This account doesn't need physical documents, nor minimum balance maintain. After opening of account, holder will get a Virtual Debit Card. By which account holder can do shopping online, can do transaction through online.

Those who have Aadhar Number & Pan Card please click the below link to open an account.

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