https://www.taxtmi.com/circulars?id=65003 The circular reiterates a restriction on opening current accounts for borrowers with CC/OD facilities and prescribes a graded approach based on banking-system exposure; non-lending banks may open accounts for collection in specified circumstances. Banks are allowed extra time to engage borrowers and resolve operational issues, escalate unresolved matters to the industry association and regulator, extend exemptions for white label ATM operators to Cash-in-Transit and cash replenishment agencies, and implement head office and regional monitoring mechanisms to ensure non-disruptive implementation while maintaining ineligibility for current accounts where borrowers have agricultural/personal ODs or ODs against deposits. en-us Wed, 04 Aug 2021 00:00:00 +0530 Thu, 05 Aug 2021 19:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65003 The circular reiterates a restriction on opening current accounts for borrowers with CC/OD facilities and prescribes a graded approach based on banking-system exposure; non-lending banks may open accounts for collection in specified circumstances. Banks are allowed extra time to engage borrowers and resolve operational issues, escalate unresolved matters to the industry association and regulator, extend exemptions for white label ATM operators to Cash-in-Transit and cash replenishment agencies, and implement head office and regional monitoring mechanisms to ensure non-disruptive implementation while maintaining ineligibility for current accounts where borrowers have agricultural/personal ODs or ODs against deposits. Circulars RBI Wed, 04 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65003