Ours is an apartment Owners' Association which we have formed on principles of mutuality. We have been running on no profit basis.
Our banker, SBI has quoted a circular issued by RBI referring about benefitial ownership that the association should declare the persons who are authorized signatories and managing the association. We have furnished those information but bank is insisting that we should declare our personal account number as well. I fail to understand this logici Is the position of the bank correct and can some one share that circular