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of <h1>RBI Allows Banks to Open Specific Current Accounts Without Restrictions; No NOC Needed; Semi-Annual Monitoring Required.</h1> The Reserve Bank of India has issued guidelines permitting banks to open specific current accounts without restrictions, as per various statutes and regulatory instructions. These accounts include those for real estate projects, payment aggregators, card settlements, and statutory dues, among others. Banks must ensure these accounts are used only for specified transactions and monitor them regularly. The guidelines also clarify that banks no longer need a No Objection Certificate to open current accounts. Monitoring of accounts should occur at least semi-annually, and banks must adhere to specific conditions for account management and exposure assessment.
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