In a move aimed at promoting seamless business operations, the Ministry of Corporate Affairs (MCA) has enabled Limited Liability Partnerships (LLPs) to initiate the process of opening bank accounts directly through the MCA portal. This new functionality, introduced under the MCA V3 system, allows newly incorporated LLPs to opt for bank account integration during the incorporation process itself, minimizing paperwork and reducing turnaround time. The facility mirrors a similar benefit long extended to private limited companies and startups.

Under this integrated system, once an LLP is registered using the FiLLiP form, it can choose a partnering bank such as SBI, ICICI, HDFC, or Punjab National Bank to automatically initiate account opening. The MCA portal shares authenticated data, including the LLP agreement, PAN, and registration certificate, directly with the bank’s system, eliminating the need for repeated KYC documentation. This digital handover improves speed and accuracy, allowing LLPs to access banking services within 2–3 working days of incorporation.

The government’s objective behind this move is to support the ease of doing business and strengthen digital compliance for non-corporate entities. By streamlining bank onboarding, the system ensures faster access to working capital, payment solutions, and business loans, especially for startups and small LLPs looking to scale quickly. Legal and financial advisors have praised the initiative, stating it will reduce administrative burdens and encourage early-stage LLPs to formalize their financial infrastructure efficiently.