RBI’s refusal to change the current account rules, Governor Dr. Das said that protecting the interests of deposit holders is more important


New Delhi. The bank, which objected to the RBI’s new rules for opening a current account in the same bank, did not get any assurance from RBI Governor Dr. Shaktikanta Das on Wednesday. While giving a clear indication of the continuation of the new rules in this case, Dr. Das said that banks should know what is the cash flow situation of the businessman to whom they are giving loans. This is the right step for the entire banking system.

Along with this, RBI Governor also clarified that banks have to take more care of the interests of depositors. In restructuring the loan account affected by the Kovid-19 epidemic, care will also be taken that the interests of customers depositing money in banks are not harmed. In a virtual meeting with FICCI, the country’s premier industry chamber, the RBI governor gave five sources to put Kovid’s post-Indian economy back on track and assured the industry that he would be given all possible help from the central bank in the fight against the Corona epidemic. Will get

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Since April 2020, RBI has been constantly monitoring the situation and trying to address the problems of every section of the economy by changing its rules. He said that after Kovid, special attention should be paid to five areas to speed up India’s development journey. It suggested to focus most on education and health, followed by productivity, exports, tourism and finally food processing.

Recently RBI has made a rule that current account should be opened in the same bank from which the business loan is being taken. This has upset foreign and private banks, while the industry is also going through this exasperation as they will have to open a new account. Dr. Das said that the bank should have a clear picture about the financial condition of the person who is being given the loan.

The meeting also suggested several suggestions about banking loan restructuring, such that the loan repayment period should be increased from two years to four years, all the loans should be allowed to be converted into term loans and return one percent more interest over a period of time etc. . Dr. Das made it clear that whatever decision is being taken, the interests of bank depositors are being given priority and will be given further. Also, care is being taken to strengthen the banking structure.No relaxation in gold loan rules

Regarding the different rules for NBFCs and banks regarding gold loans, RBI Governor also made it clear that this has been done deliberately. After the worsening of the large NBFC named IL&FS last year, the central bank does not want such a case to be repeated. In such a situation, more stringent rules have been made for NBFCs. At present, banks are allowed to give loans up to 90 percent of the price of gold, while for NBFCs this limit is only 70 percent.

Dr. Das says that gold loans account for a very small portion of the total loans allocated by banks, while many NBFCs account for a large portion of gold loans. In such a situation, fluctuations in the price of gold can make it difficult for these institutions.



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