Diabytes
Current accounts News
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The RBI plans to enforce credit discipline amongst the borrowers.
The new rules will facilitate better monitoring by the lenders.
Business customers will be able to open multiple current bank accounts.
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All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month.
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With the RBI lifting the ban on daily restrictions on cash withdrawals from ATMs and current accounts from February 1, the EC feels that it could help candidates to tide over currency crunch in meeting election expenses.
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In a big relief to people and small businesses, RBI on Monday announced lifting of restrictions on daily withdrawal of money from ATMs and from current accounts but the weekly limit of Rs 24,000 on savings bank accounts will continue.
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Allaying fears of shortage, the Finance Ministry Monday said there is enough cash in the system and delivery channels are being augmented across the country to help cash-starved citizens.
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