RBI eases some conditions for banks to open current accounts

In August, RBI had said that banks that do not have cash credit or overdraft (CC/OD) facilities cannot open a current account for any borrower. Further, if a bank has an exposure of less than 10% of loans of the banking system to a borrower, all debits to their accounts can only be routed through a bank which has 10% or more of the loan exposure.

from Personal Finance News-Wealth-Economic Times https://ift.tt/38amQOu