According to RBI, banks need to be disciplined about opening a current account.
The Reserve Bank believes that it is necessary to take such steps for loan dispensing.
Reserve Bank has stopped the facility of opening a current account (current account) for customers who have availed cash credit (CC) or overdraft facility. RBI has said in a new notification that instead of opening a new current account, all transactions should be done through CC or overdraft account. However, the RBI has not told what is the reason for this notification.
The trend of scam will stop with this order
According to a PTI news, the tendency to scam by opening multiple accounts will stop this. The RBI recently came to know about the opening of several accounts in the PMC Cooperative Bank scam case of over Rs 4,000 crore. So this will prevent the fraud with bank management. With this money of depositors will be safe.
Also Read: RBI took 5 big decisions Rules related to checks, cash and loans changed for customers
It is necessary for loan discipline
Reserve Bank Governor Shaktikanta Das said, “It is necessary to take such steps for loan dispensing.” He said that concerns are being raised about the use of many accounts from the borrowers. In view of this, it is necessary to take precautionary steps to open such accounts on behalf of borrowers who avail of loan facility from many banks. According to RBI, banks need to be disciplined about opening a current account. No bank will open current accounts of customers who have availed loans from banks in the form of cash loans (CC) or overdrafts. All transactions of these customers can be done through CC or OD account.
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