🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

News

Messages

Try our Valuation Calculator →

Back

Mohammad Arshad

Build Better Faster ... • 4m

Need Help on a Paid-Up Capital vs Initial Deposit Confusion Hi everyone! I’ve just incorporated my private limited startup and I’m in the process of opening our company current account. The bank (Kotak Mahindra) requires a mandatory initial deposit of ₹2,00,000 to activate the current account. However, as per our MCA incorporation documents, our declared paid-up capital is only ₹1,00,000 (₹50K each from two founders). 🔍 My question is: If I deposit ₹2L first (as required by the bank), will that conflict with the requirement to show the ₹1L paid-up capital? Can I still transfer ₹50K + ₹50K after that and treat it as paid-up capital — even though it won't be the first transaction? Also, how should the initial ₹2L be recorded in the books — director loan? advance? Would love clarity from anyone who’s dealt with this! Thanks in advance 🙏

1 Reply

Replies (1)

Rahul Agarwal

Founder | Agentic AI... • 4m

This is a common scenario for startups. It’s best to clarify with both your bank and accountant how the initial deposit aligns with your paid-up capital, and to properly document any excess as a director’s loan or advance to keep records clear.

Recommendations from Medial

Akshay Chandromittal

🚀Building Wheeloy |... • 9m

Guys need help, which bank provides the best current account for startups?

3 Replies

Aadesh Panwar

CEO at Admeasy | SRC... • 7m

Which is the Best option(Bank) to Open Current Account for Startups? Could you share your experience with the Banks if you have Current Account

Axis Bank

SBI

HDFC

Any other which You use👇

Votes: 16

1 Reply

Anonymous

Hey I am on Medial • 1y

[HELP] Which bank provide best current account services for a startup?!

10 Replies

Aadesh Panwar

CEO at Admeasy | SRC... • 7m

Is Current account in Axis Bank good for Startups? If they provide below services.

2 Replies

Anonymous

Hey I am on Medial • 1y

What bank to choose to open a Startup current account for a recently incorporated startup?

ICICI (0 AQB)

HDFC (expensive service)

IDFC (for best perks)

SBI (basic Bank A/c)

Votes: 34

4 Replies

Account Deleted

Hey I am on Medial • 7m

8 Startup-Friendly Banks in India 1. YES Bank Startup Banking https://www.yesbank.in/business-banking/startup-banking 2. HDFC Bank SmartUp https://www.hdfcbank.com/personal/pay/cards/startup-services/smartup 3. ICICI Bank InstaBiz for Startups htt

10 Replies

Mohammad Arshad

Build Better Faster ... • 3m

Hi everyone , We are facing issues in opening a current account for our startup with Kotak Mahindra Bank. The process has been delayed for weeks due to backend technical issues, and it’s affecting our operations. 👉 Has anyone here faced similar pro

Samanth Shetty

Be yourself • 4m

Are there any Bank official who works in loan department? had one doubt. Please answer it below Doubt : If a business needs 45cr capital, and i need 2cr loan from a bank ( Paid-up capital is just 6 crore, and 38cr loan is sanctioned from a bank ). S

Ravi Teja Reddy

Hey, I'm using media... • 7m

Can I Start Up with ₹50K Monthly Income & ₹5 Lakhs Capital? Hey founders and hustlers, I’m currently earning ₹50K per month and have saved up ₹5 lakhs as capital. I'm passionate about starting my own venture — but I’m wondering, is this enough to:

1 Reply

mayur savaliya

Founder and Entrepre... • 10m

hello, can anyone suggest the best bank for a startup in initial phase we want to open a bank account, also it would be great if you give suggestions like what to do and what to not would love to hear from you guys.

4 Replies