Param 🇮🇳/acc @paramdane

🕉 🇮🇳 MBBSing. tech/biz/infra maxxx. #FundKaveriEngine Mumbai, India Joined December 2015

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Param 🇮🇳/acc @paramdane

2 days ago

Update: I have emailed @sanjeevsanyal ji as per his directions.

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Massively blackpilled about small biz in 🇮🇳. Its impossible for me to open a current account for a recently started proprietorship with <9 employees and <20lacs turnover begging the officials. Tried every single major bank.

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Param 🇮🇳/acc @paramdane

2 days ago

@amankiashalib @sanjeevsanyal Private? I'm not sharing anything sensitive? Its a concern that I have already aired on my public twitter to which he has publicly replied, I'm just elaborating on the same as he directed me to do so.

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Param 🇮🇳/acc @paramdane

2 days ago

Update: I have emailed @sanjeevsanyal ji as per his directions.

Param 🇮🇳/acc @paramdane

3 days ago

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Param 🇮🇳/acc @paramdane

2 days ago

@priyankac19 Ma'am political differences aside, you are very well suited to raise it at higher/appropriate channels. Thousands of current and future micro-entrepreneurs would benefit if your intervention bears fruit. Thanks.

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Param 🇮🇳/acc @paramdane

2 days ago

@rajdeepind18 @sanjeevsanyal My trade doesn't have a dedicated license. Infact, most trades don't require a dedidcated or specific license. And as for Shops & Establishment, refer the email.

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Param 🇮🇳/acc @paramdane

2 days ago

@deepakmnadiger @sanjeevsanyal Agreed. Most sane people will do that. But think of people who are already renting a place (with parents themselves being tenants) or a small biz running alongside another one that has rented a store (very common practice).

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Param 🇮🇳/acc @paramdane

2 days ago

Update: after complaining on twitter about the @HDFC_Bank Current Account Opening, I have recieved a call from the same person who said 2 Entity Proofs are mandatory - that suddenly the rules have changed and they can make an account with my Udyam+Individual ITR (w/o firm name)!

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Param 🇮🇳/acc @paramdane

2 days ago

@angi_harsh Sanstha Aadhar is a rajasthan govt thing only. Doesn't exist in Maharashtra.

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Param 🇮🇳/acc @paramdane

2 days ago

@ppppos @richapintoi 20-25th Oct

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Param 🇮🇳/acc @paramdane

2 days ago

@angi_harsh They need two entity proofs now. I have udyam already. Sahmati patra can act as a address proof only according to them.

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Param 🇮🇳/acc @paramdane

2 days ago

@drishtadyumn RazorpayX requires GST registration. Will checkout slice and tide.

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Param 🇮🇳/acc @paramdane

2 days ago

@bahuvidha Every single one that I approached. HDFC being the biggest. Chats with HDFC guy -

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Param 🇮🇳/acc @paramdane

2 days ago

@HodlMantra HDFC RM said point blank cannot accept Gumasta-F/G (which is for <9 employees) ITR with company name not possible because the firm has just started Certified license from municipality doesn't exist for my business category altogether.

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Param 🇮🇳/acc @paramdane

2 days ago

@PNasham57211 Thats what Gumasta is.

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Param 🇮🇳/acc @paramdane

2 days ago

@1inconsiderate Shops and Establishments is same as Gumasta. MH only issues a "Intimation Receipt" for Gumasta for establishments with <9 employees -called Gumasta-G. This is not accepted by banks anymore. They need a Gumasta-B (proper regd) which is issued in MH only for >9 employees.

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Param 🇮🇳/acc @paramdane

2 days ago

@piyushdongrecom I was avoiding PSBs for deficiency in digital services but now that multiple people have said that PSBs do it on 1 entity proof, I might actually take the leap and go for it with one.

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Param 🇮🇳/acc @paramdane

2 days ago

@RohitChan666 Neither selling online, nor across states/countries. Local biz only.

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Param 🇮🇳/acc @paramdane

2 days ago

@Maakul1 I have Udyam. They need 2 eneity documents.

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Param 🇮🇳/acc @paramdane

2 days ago

@1inconsiderate Pardom my ignorance but what is F&B? Rent Deed can't happen because place of work is mostly remote ("regd" office is owned by first family, I'm not renting it as such)

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Param 🇮🇳/acc @paramdane

2 days ago

@iSiddharthShah ICAI firm regn counts as an entity proof. The "declaration" option is something that a accounts guy at HDFC told me they used to accept when 2nd entity proof wasn't available but now have been instructed not to. They called it Annexure E (or P? Cant remember)