The country’s largest government bank SBI has closed more than 60,000 current accounts here.
The country’s largest state-run bank SBI has closed more than 60,000 current accounts. Banks have informed customers about this through e-mail and SMS. Many government and private sector banks have started closing current accounts in their banks. In fact, following the instructions of the Reserve Bank of India (RBI), many banks have closed millions of current accounts. Due to this decision of RBI, lakhs of MSMEs and small businessmen are facing problems.
RBI gave instructions
RBI has said in the instructions that banks should not open current accounts of those customers who have taken loans from any other bank. In fact, the Reserve Bank has instructed banks not to open current accounts to those account holders who have taken loans from other banks. So that, he can keep an eye on the cash of those customers.
Many people were misappropriating funds from the bank from which they took loans and opening current accounts in other banks, which RBI took this decision to stop. Following these new rules of RBI, SBI has closed 60 thousand current accounts.
What is current account
In the current account account, account holders are given the facility of multiple transactions in a day. You can do bank transactions from withdrawing money from ATM to bank multiple times in a single day. You do not have to pay any fee for the transaction. These are business accounts on which overdraft means that even if there is no money in the account, the facility of withdrawing money is available. However, it does not earn interest like a savings account.
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