current account new rules After the implementation of the new rules, such accounts were under threat, which did not follow it. RBI had already issued a warning. RBI had said in the warning. The account will be closed. The owners of many small companies had complained to the government and RBI about the closure of accounts.
The deadline for applying the new rules on your bank account has been extended to 31 October. This decision of RBI has brought great relief to the traders and those maintaining current accounts.
After the implementation of the new rules, such accounts were under threat, which did not follow it. RBI had already issued a warning. In the warning, RBI had said, the account will be closed. The owners of many small companies had complained to the government and RBI about the closure of accounts.
Now RBI has extended the deadline for new rules. RBI has implemented the new rules so that loan discipline can be enforced among borrowers as well as banks can better monitor.
Many changes have been made in these new rules, in which it has been said that the account of the borrower can only be in that bank in which 10 percent of his loan amount is. To those who do not follow the rules, the information about closing the bank account or freezing it was sent by sending an email.
In this email, the bank told its customers that you can maintain your cash credit / overdraft account in our branch but your current account will have to be closed. It cannot be maintained while availing the facility of Cash Credit/ Overdraft Account. You are requested to make arrangements to close your current account within 30 days.
In this regard, while giving relief, the bank has now informed the customers that the deadline for implementing the new rules has been extended to October 31, 2021. The merchants get great relief from the current account.
It gives the convenience of doing everyday business transactions. Along with this many other types of facilities are also available. The holders can withdraw and deposit the money as many times as they want. That is, in the current account, you can do as many transactions as you want in a day.
