RBI eases current account rules for bank exposures less than Rs 5 crore

“For borrowers, where the exposure of the banking system is less than Rs 5 crore, there is no restriction on opening of current accounts or on provision of CC/OD facility by banks, subject to obtaining an undertaking from such borrowers that they shall inform the bank(s), as and when the credit facilities availed by them from the banking system reaches Rs 5 crore or more,” RBI said.

from Banking/Finance-Industry-Economic Times https://ift.tt/3vYMjpS