IBA or Indian Bank Association is a non-governmental association of over 300 Public and Private sector bank and financial institutions. To serve its members, IBA approves enlists multiple service providers to its members for services like packers and movers, transporters, Auditors, Security printers etc. IBA recommends only those packers movers and transportation companies that fulfill its eligibility criterion under the IBA transport operator approval scheme and other formalities ensuring only registered and trustworthy companies get IBA Approval tag.

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Eligibility Criteria for Recommending Transport Operators / Packers Movers by IBA.

1. For Transport Operators / Packers and Movers, they should own minimum of seven (7) Heavy Commercial Vehicle (HCV) or 14 (fourteen) LCV. These vehicles should have national / zonal permits and at least 2 vehicle must have National Permit and none of the vehicle should not be 15 years old.

2. The Transporter has to submit copy of Income tax returns and Audited account for the last 2 years. This to be verify that for Public and Pvt Ltd Companies, the trucks are owned by the company and not taken on hire / lease.

3. Proprietorship / Partnership firm too need to submit their accounts. The vehicles for such firms can be on Firms / Company's name of its Proprietor / Partners.

4. For all types of Companies - the PL accounts, Balance Sheet and Schedule for fixed assets should be audited by a Chartered Accountant. Capital requirement for the scheme should be more than Rs. 20 Lacs.

5. The transport / packers movers companies should submit a statement showing all the routes covered by them.

6. Transport Operators / Packers and movers should have offices / branches / agents in more than one state and they should be authorized to issue Lorry Receipt. They should also have GODOWNS in these locations.

7. Where the Company is into more than one business, the goods transport or Movers packers business should be more than 50% of the total business of the Company.

8. The Transport Operator should carry goods on carrier risk. This implies that any damages / breakages / loss of goods should be compensated by the company.

9. The Transport / Logistics / Movers packers company should be more than 2 years into the moving packers business to apply for IBA registration.

10. If the Transport Company / Movers Packers Bangalore firm has incurred loss consecutively for the last 2 years, the application for such companies shall not considered for IBA registration and approval (IBA Approved Movers Packers Scheme).