Limits for open bank accounts in pvt ltd company

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bharath (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 account in Company...?
Is it possible to open 2 accounts with separet banks

Please resolve my problem sir.
2 or 3...

V K Bajaj

V K Bajaj (Expert)

27 November 2012 There is no limit as how many accounts you open. But the bank from whom you have taken loan has the right to ask you.

So please explain your bank as how another account in SBI was required for some special functions only.

CA N RAJA

CA N RAJA (Expert)

27 November 2012 Agreed with Bajaj....Shri Bharath, please go through the sanction terms of your Rural Bank. There, you may find a condition that without the prior approval, your company should not have any accounts with any other bankers. Banks will stipulate this condition to ensure routing of transactions with the main lender. If maintaining account with SBI is inevitable for your company, make a specific request letter to your Rural Bank and promise them that funds will be routed back to their account.

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