FAQs on Corporate Bank Account
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Presently, only following banks are covered opening of corporate bank account through MCA:
- ICICI Bank
- HDFC Bank
- Andhra Bank
- Kotak Mahindra Bank
- Yes Bank
- Citi Bank
No, it is not mandatory to assign the director to act as a authorized person. Any other person associated with the company can also be assigned as a authorized person. In case the authorized person is a director, then his/ her DIN shall also need to be provided along with the income tax PAN.
User shall provide the information related to the main source of future income i.e. either through trading business, manufacturing unit, provisioning/ rendering of services, etc under 'Sources of Fund'.
User shall provide the minimum balance which he/ she is expecting to maintain in the bank account to be opened.
There is no facility to make any changes/ updations through this form. User is required to contact the concerned bank branch for such corrections/updations.
Concerned bank in which the bank account is to be opened shall be the approval authority of the form.
No, It is not mandatory for every company to file this form. This is an additional facility provided to the corporate for opening of their bank account through MCA portal without the need of submitting physical papers with the bank and thereby reducing the overall service delivery time.
Yes, User has the option either to open the bank account through the earlier process (submission of form physically in the bank) or through the new process (online submission of form on the MCA portal).
There is no facility to make any changes/ updations in bank / branch details through the MCA21 system. User has to contact the concerned bank/ branch for any changes/ updations in the details.
No, this form is for opening of a new corporate bank account only. For correction/modification in details of already opened bank account, the user shall be required to contact the concerned bank/ branch.