I am new to this I am planning to start a new business in chennai my Company name is Pixel D'zines I enquired that i can register it at SISI as a small scale industry first because right i am going to do it from my home and I need to open a current account in my company name. Is that possible to open a current account before registering as a small scale industry? How much is the minimum amount to open a current account? as iI can not spend much money like Rs.10000 for opening a account for now. Can any one suggest me a good solution please
You really ARE new. Are you starting a factory producing goods that fall into the reserved category of small scale sector in India? FYI, this sector has really been pruned recently and very few goods now enjoy this protection.
However opening a current account has nothing to do with any industry or registration. You can do so with any bank ( even as a proprietor). Working from home has nothing to do with the nature of your bank account.
However, most banks will insist on a minimum quarterly balance of some amount..maybe INR 5000 or INR 10,000. Explore with a few local banks to find the best deal.
BTW, a current account is NOT a necessity before starting a business. You can continue to work with your existing personal saving account, till you register your company.
Well Thanks for your interest on my query i am gonna start a Web Design Company called Pixel D'zines and I faced a problem with one of my client he is asking for Current Account i dont what is the procedure for doing that?