Finance
Sock JohnsonRBI Unleashes New Rules to Supercharge Bank Flexibility
The Reserve Bank of India just dropped some serious new rules to pump up the flexibility of banks handling cash credit, current, and overdraft accounts! After hearing from the big players in the game, these guidelines are here to tighten the credit discipline and keep those transactions in check. You better believe it, they’re making sure banks know how to manage cash like a champion!
few days ago | Abhijit Lele
Quick rundown
1.RBI introduces revised norms for bank accounts.
2.New chapter aims to enhance credit discipline.
3.Feedback from stakeholders shaped the final norms.
4.Cash credit accounts differ from current and OD accounts.
5.Banks can maintain collection accounts with conditions.
