OPENING OF CURRENT ACCOUNTS BY BANKS – NEED FOR DISCIPLINE, RBI
There have been number of frauds-through siphoning of loaned funds of banks by the unscrupulous persons by opening unauthorised current accounts with banks other than those who have advanced/allowed credit facilities for their projects.
Many a banks have remained vulnerable to such frauds when they do not take precautions/quiz their borrowal customers of other banks who come to open current accounts .
RBI has asked banks to monitor all current accounts and CC/ODs regularly.
Here are reproduced RBI’s latest guidelines in toto.
|NOTIFICATIONS-Opening of Current Accounts by Banks – Need for Discipline|