How to Change Bank Details in MSME?

How to Change Bank Details in MSME? For Indian MSME owners, it is essential to have proper and updated information in their Udyam Registration to access government benefits, subsidies, and smooth access to credit facilities. understanding How to Change Bank Details in MSME one of the most frequent updates entrepreneurs need to undertake is how to modify bank details in MSME registration. If you have changed banks, created a new account, or want to rectify existing information, an update of your bank details on the MSME portal is easy, free, and a completely online process.

This article gives a complete, step-by-step guide on How to Change Bank Details in MSME, such as the documents needed, eligibility parameters, time to expect, and other aspects to keep in mind to maintain current, compliant business records.

Process on How to Change Bank Details in MSME (Udyam Registration)

Login to the Official Udyam Registration Portal

Proceed to the Udyam Registration portal (udyamregistration.gov.in).

Login to Your Account

Utilize your old Udyam registration number and registered mobile number to login. You will be prompted to confirm your identity using OTP received via mobile or mail.

Reach the Update/Cancel Section

Click on the “Update/Cancel Udyam Registration” link on the home page.

Verify OTP and Login

Select the OTP method for verification, input the OTP received, and confirm it.

Edit Your Details

After login, click “Edit Details” in the Udyam Registration Details dialog box. Here you can modify the bank details and other details if required.

Submit the Changes

Once you have updated your bank information, hit “Update Details.” You will see a message telling you that the “Udyam Registration Details Updated Successfully.”

Download Updated Certificate

You can now download or print the new MSME certificate with the updated bank details.

Also Read: how to check msme registration by gst number

Important Documents Needed

Current MSME/Udyam Registration Certificate (to confirm present registration)
Bank Details Proof: Passbook or cancelled cheque leaf containing the account number and IFSC code
KYC Documents: Proprietor/partners/directors’ PAN card and Aadhaar card
Application Letter (if needed by a few service providers or consultants) indicating the request for bank detail modification

Note: MSME/Udyam registration portal will most likely not ask for physical document upload since the process is online and paperless, but keep these documents with you for reference or if asked during verification.

Eligibility Criteria

The business should be a registered MSME under Udyam Registration scheme.
Turnover of the business should lie within the limits of MSME (up to Rs 250 crore for purposes of registration as well as submission of updated information).
Changes may be made by authorized individuals only (proprietor, partners, or directors) with authentic Aadhaar-linked mobile numbers.

Also Read: who is eligible for msme registration

Time Period for the Process

The update process is typically instantaneous or done in a matter of hours on the portal after providing the right details and confirming OTPs.
Formal confirmation and new certificate creation occur immediately upon submission.

Charge for the Process

Understanding How to Change Bank Details in MSME Registration is absolutely free on the government portal. There could be minimal charges if you hire third-party services or consultants, but the actual government process does not have any charge.

More Important Information

The MSME certificate has no expiration date, meaning you can modify bank or other information at any time as your business grows.
You should maintain up-to-date bank information to facilitate ease of processing government schemes, subsidies, and credit facilities associated with your MSME registration.
If you forget your Udyam registration number, you can recover it online by authenticating your mobile or email via the portal.
The entire process is digital, paperless, and user-friendly to facilitate easy access to motivate MSMEs to keep their records up to date.

Also Read: is msme applicable for traders

It is important for every entrepreneur to know How to Change Bank Details in MSME registration to have uninterrupted access to government schemes, subsidies, and financial incentives. The procedure on How to Change Bank Details in MSME is simple, fully online, and charge-free, and hence it is convenient for MSME owners to update their business details. By easily updating your bank details through the official Udyam Registration website, you can ensure that all transactions and communications regarding your MSME proceed smoothly with no delays. Remaining aware and active about such changes not only reinforces your company’s credibility but also enables you to maximize the benefits of being knowing How to Change Bank Details in MSME.