Bank current account opening restricted by borrower exposure thresholds, escrow requirements, collection account limits, and CC/OD routing rules. No bank shall open current accounts for customers who have availed CC/OD; all transactions must be routed through the CC/OD account. Banks with under 10% of system exposure may permit credits but debits only to remit funds to a CC/OD account held with a bank having 10% or more exposure. For borrowers without CC/OD, mandatory escrow applies at Rs.50 crore or more (only escrow bank may maintain current account), while Rs.5-
Bank current account opening restricted by borrower exposure thresholds, escrow requirements, collection account limits, and CC/OD routing rules.
No bank shall open current accounts for customers who have availed CC/OD; all transactions must be routed through the CC/OD account. Banks with under 10% of system exposure may permit credits but debits only to remit funds to a CC/OD account held with a bank having 10% or more exposure. For borrowers without CC/OD, mandatory escrow applies at Rs.50 crore or more (only escrow bank may maintain current account), while Rs.5-
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