| Parameter | Details |
|---|---|
| Product Name | AASRA Current Account |
| GL Code | CA |
| Product Type | Business-friendly, high-transaction demand deposit account |
| Eligibility | Exclusively for Aasra Society Members, including Proprietorships, MSMEs, Cooperatives, Self-Help Groups (SHGs), Traders, and Service Providers |
| Excluded Segments | Not available for Corporate Entities, NGOs/Institutions (unless approved), or high-risk businesses at the Society’s discretion |
| Membership Rule | Mandatory Society Membership required before account opening |
| Business Documentation | Mandatory Business Registration (Udyam, GST, Trade License, or Shop & Establishment License). Industry-specific licenses like FSSAI are required for food-related businesses |
| Facilitation Services | The Society provides assistance in obtaining mandatory business documentation (Udyam, FSSAI, GST) at the customer’s expense |
| Minimum Balance | ₹1,000 (Mandatory & Hard-locked): Outward transactions are automatically blocked if the balance reaches or falls below this amount |
| Liquidity | High liquidity with unlimited cash deposits and withdrawals (above the ₹1,000 minimum balance) |
| QR Code Facility | Business UPI QR code issued for instant customer payments and real-time settlement into the account |
| Digital Banking | Mobile App enabled with OTP, MPIN, and Biometric login. Features include real-time dashboard, e-passbook, and QR collection reports |
| Money Transfers | Free and unlimited internal member-to-member transfers; NEFT / RTGS / IMPS available via the app at actual banking costs |
| Physical Services | Branch services, Daily Collection facility, and Doorstep cash pickup/delivery (OTP-verified) |
| Fees & Charges |
Account Opening: ₹250; QR Code Subscription: ₹250 (Per Annum); Account Closure: Free |
| Customer Responsibility | Use the account strictly for business purposes, protect MPIN/OTP, and maintain all required business licenses |
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