The uniqueness of the bank lies in the fact that it is a bank with neither ATMs, nor cheque books; its only 'currency' is Lord Ram.
Ashutosh Varshney, who manages the bank's affairs, is carrying on the legacy of his grandfather who had set up the organisation in early 20th century.
"This bank was started by my grandfather, Ishwar Chandra, who was a businessman. Now, there are over one lakh account holders from different age groups and religions," said Ashutosh Varshney, who has set up his camp at Sector 6 of the Kumbh Mela.
"It runs under a social organisation, Ram Naam Sewa Sansthan, and has witnessed at least nine Kumbhs," he said on Sunday.
The bank has no monetary transactions. Its members have a booklet of 30 pages, containing 108 columns in which they write 'Ram Naam' 108 times everyday. After completion, the booklet is deposited in the individual's account.
He said the name of the Lord should be written in red ink as it is the colour of love.
"The divine name of Lord Ram is credited in the account of account holder. A passbook is issued like other banks," said Gunjan Varshney, president of the bank situated at Civil Lines here.
Explaining the digital nature of the bank, Gunjan Varshney said, "The Ram Naam app can be downloaded free of cost from Google Play Store. The person has to register with the organisation, giving basic details such as name, age, address and also why he/she wants to write the name of Lord Ram."
"After this, the user is given a login id and password, and the first page of the 30-page booklet can be seen. It is only after that a person completes the first e-booklet (by writing Ram 108 times on each page) that he/she is given an account number," she said.
She also informed that the Digital Ram Naam Bank uses cloud computing technology.