A simple account for your institution

1. Societies registered under the Societies Registration Act, 1860, or any other corresponding law in force in a State or a Union Territory, except societies registered under the State Co-operative Societies Acts and specific state enactment creating Land Mortgage Banks.

2. Section 25 Companies (as per Companies Act, 1956) or Section 8 Companies (as per Companies Act,2013)

3. Institutions/entities whose entire income is exempt from payment of income-tax under Income-Tax Act, 1961

4. Government departments/bodies/agencies in respect of grants/ subsidies released for implementation of various programmes/ schemes sponsored by Central/State Government (subject to production of an authorisation from the respective Government departments to open a savings bank account)

5. Development of Women and Children in Rural Areas (DWCRA)

6. Self-Help Groups (SHGs), registered or unregistered, which are engaged in promoting savings habits among their members.

A Self-Help Group (SHG) is a small voluntary, informal association of people, preferably from the same socio-economic background. They come together to inculcate a habit of savings among their members through self-help and mutual help. The SHG promotes small savings among its members. The savings are kept with a bank.

In terms of banking, an SHG comprises of 10-20 members who are brought together normally by NGOs, and are encouraged to take up livelihood activities like tailoring, handicrafts, fabric making from e-charkhas etc., The members save individually and these savings can be lent to any of the members in time of their need. Some banks also lend to SHGs.

As per regulations, SHGs are allowed to open Savings Accounts

AMB or Average Monthly Balance of your Dynamic TASC account is the average of the day-end balance in the account for all the days in a month. 

Every day, from the 1st to the end of the month, we take the balance in your account at the end of the day. We total them all up and divide by the number of days in the month. That’s it!

You can track your IDFC FIRST Bank Dynamic TASC account through the following modes:

·         Internet Banking & Mobile Banking

·         24x7 Banker on Call

·         Monthly email statements sent to registered email address

·         Alerts through email and SMS

Below are some of the digital payment and receivable solutions, available to TASC Current Account holders:

·         Free bulk upload facility on net banking

·         Payment Gateways

·         Virtual Accounts

·         UPI – QR

·         Point of Sales

·         API Integration

·         NACH/e-NACH