Current Accounts

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RBI extends deadline for banks to implement new rules on current accounts till October 2021

This extended time can be utilised by banks to engage with their borrowers to arrive at mutually satisfactory resolutions within the ambit of the circular, the RBI said.

RBI eases withdrawal limits for ATMs, current, overdraft A/cs

The Reserve Bank of India (RBI) today removed cash withdrawal limits from ATMs from February 1. The central bank also removed limits from withdrwals from current, cash credit and overdraft accounts with immediate effect.

RBI imposes Rs 3 crore penalty on Lakshmi Vilas Bank

Reserve Bank today said it has imposed a penalty of Rs 3 crore on Lakshmi Vilas Bank for contravention of instructions on opening and operation of current accounts, among others

Withdrawal limits eased for overdraft, cash credit a/c holders

Now, holders of current, overdraft and cash credit accounts may now withdraw up to Rs 50,000 in cash in a week. However, a criterion for the cash withdrawl is that such accounts should have been operational for three months or more.

RBI fines UCO Bank Rs 1 cr for violation of c/a opening norms

RBI had carried out an inspection of books of accounts, internal control, compliance system and processes at one of the UCO bank's branches in May-June of 2015.

Bank Internasional Indonesia commences operations in Mumbai

Bank Internasional Indonesia has commenced the operations of its Mumbai branch effective today.