Holding bank accounts with seperate banker .

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2012 Dear All Experts, In our Private limited Company have 2 banks Accounts. 1- C C account with Rural Bank. Another Current Accounts with SBI Bank .
But Here one problem is our Cash Credit Given Bank question about us why you opened the other bank accounts,
Sir, Please advice me Limits for Maintain Bank accounthow (many bank accounts) in Company...?
Is it possible to open 2 accounts with separet banks Please resolve my problem sir. 2 or 3...

CA. Subhash Dangi

CA. Subhash Dangi (Expert)
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26 November 2012 There are no restrictions to the companies to open only one account.
A company can open many current or deposit accounts with different banks based upon the need and exigency.
However, any banker who have sanctioned loans may question not operate too many accounts with different bankers.
The reason that both Cash Credit and Current account are interlinked and related each other. i.e, all transfers, interest and bank charges etc,of bank are routed thro Current account.
Yes, it is possible to open 2 accounts with separate banks.
To resolve this open one more current account with credit given bank.