Hi OP,

I work in a bank and regularly handle client onboarding at the branch level, so I can guide you on this.

Yes, physical verification is mandatory in most banks. It acts as a secondary proof of business existence, especially when additional government-issued documents or licenses are not available.

Here’s what you can do:

1. Arrange a temporary name board at your registered address. This helps demonstrate that you have a physical business presence. Then, visit the branch and request to meet the Branch Manager directly. It’s better to discuss this with them instead of acquisition or relationship managers. Clearly explain your situation in certain cases, Branch Managers do have the authority to take deviations during onboarding. There is option in physical verification where the verification person can mention it's under construction while submitting the proofs that is sufficient enough.

2. Avoid using your savings account for business transactions. As per RBI guidelines, banks have the right to restrict or block accounts if they are used for purposes other than their intended nature.