RBI CIRCULAR 6 AUG 20 - Current account

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Amit purohit (Querist)
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06 January 2021 AS PER RBI CIRCULAR 6 AUG 20

"No bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system and all transactions shall be routed through the CC/OD account"

We have CC Account and Current Account in Multiple Banks.

We have receive notice from our one of the bank of close current account where we have CC Facility also.

Whether we can insist our Bank not to close Current Account where our CC Facility is also there.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 January 2021 No, follow RBI instructions and close current account.

Amit purohit

Amit purohit (Querist)
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06 January 2021 But sir whether a single current account can be remain open in the bank where we have already CC facility.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 January 2021 No, have only CC account and close current account.

Amit purohit

Amit purohit (Querist)
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06 January 2021 Thanks for reply sir

Amit purohit

Amit purohit (Querist)
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06 January 2021 Thanks for reply sir

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