Proprietary current account by a company

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Jee (Querist)
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06 June 2017 I am the MD of a Private company. The company has a current account with state bank of India in its name. Now we are coming up with a new project in education, called XYZ. Now the company, acting as an artificial proprietor, would like open an current account in the name of the project XYZ under the same CIF of the company. The resolution undertakes that the company company will take care of all the statuary requirements including IT and GST related XYZ.

Please guide me the procedure to open an account under the name XYZ with SBI.

SAFIQUE UZZAMAN

SAFIQUE UZZAMAN (Expert)
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07 June 2017 Under the same cif two current may be opened not in the same branches.In same branch under same cif a saving account and current account can be opened.

Jee

Jee (Querist)
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08 June 2017 In the same SBI branch, another company of mine have two current accounts under the same CIF

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