Any major person or partnership firm duly registered or institution registered under Indian Society Registration Act 1860 or institution registered under Bombay Sarvajanik Trust Act-1950 or Public or Private Limited Company who is a resident of or carrying on business or having/doing industry within the area mentioned in Bye-law No. 8 can become a member of the Bank
- Whose written application for membership has been sanctioned in accordance with the Bye-law no 13
- Who has paid an entrance fee.
- Who has purchased at least one share of the bank
- Who does not hold money lending licence
will be considered to have become a member of this Bank.
Members who have signed on first application for registration of bank are exempt from clause 8 A (2) and those to whom Bye law No 17 is applicable are exempt from Bye-law Nos. 8A (3) and (4)