- For Institutions, Charitable Organisations, Schools, Colleges etc.
- To facilitate collection of fees, donations, examination fee and other similar receivables and to reconcile their internal accounts
- QAB `25,000/-
- A penalty `1,000/- per quarter will be levied for Non maintenance of QAB
- Transactions other than fee / donation collection not permitted at non-home branches
|Charges for transaction||:||The institution is not charged for fee collection. Commission of `50/- shall be collected from the remitter|
|Penalty for closing the account within 12 months||:||`500/-|