Bank is asking NOC from the old signatories. Is it as per banking rules?
4 years ago
I am associated with a registered society. Two years ago we have opened a current account in a bank. Now we want to change the authorized signatories as per resolution of general body meeting of the society. We have submitted the resolution to the bank and KYC details of the new signatories. Now bank is asking NOC from the old signatories. Is it as per banking rules?
A.Dear Sir,
You may approach another Bank since this Bank seems not following the prescribed rules.
Thanks.
You may approach another Bank since this Bank seems not following the prescribed rules.
Thanks.
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Dipankar Dutta
Replied 4 years ago
Without this we can not withdraw money from this account. So we cannot go to another bank
Rameshwar Dadhe
Responded 4 years ago
A.Yes . They are on right way. Without NoC not possible to you .
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Shreyash Mohta
Responded 4 years ago
A.Yes, you need to provide the bank with NOC of the previous signatories if you want the changes.
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