Illiterate Persons and Blind Persons Accounts
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Persons who cannot read and write are called illiterates but like others, illiterate persons are fully competent to enter into contracts
No Current Account should be normally opened in the name of illiterate persons as it would be difficult to identify his LTI in cheque issued by him.
SF and Term Deposit Accounts can be opened with condition that withdrawals will be allowed only in person.
Joint Accounts in the name of two illiterates can be opened after observing usual safeguards.
No cheque book is to be issued. Withdrawal should be allowed only in person
No cheque book is to be issued. Withdrawal should be allowed only in person after proper identification. The passing official will verify in the withdrawal form under his signature to the effect that the left hand thumb impressions affixed in his presence and the amount withdrawn is orally confirmed, by the (illiterate) depositor.
Where the illiterate person gives a power of attorney in his account, the mandate should be attested by a Notary public.
Blind persons are fully competent to enter into contract and there is no legal bar in opening accounts in their name or getting loan documents executed by them.
Banks should be extra careful while opening and allowing operations in the accounts of blind persons.
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Негізгі бет Illiterate Persons Bank Account | Blind Persons Bank Accounts
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