Yes, the school is required to have a separate bank account specifically designated for the Atal Tinkering Lab (ATL). This bank account should be in the school's name and must be with a nationalized bank or any bank equipped with a Core Banking Solution (CBS) facility. If the school already has an existing account in its name, it can be used for ATL funds. However, if the school esn't have a bank account in its name, it is necessary to open a new bank account specifically for the ATL with the following naming format: "" (No abbreviation allowed). This account can be opened with either the State Bank of India or another nationalized bank or a bank with CBS.