https://www.taxtmi.com/circulars?id=65005 Banks may open current accounts for specified statute- or regulator-mandated purposes provided the accounts are used only for permitted transactions, flagged in the CBS, and subject to banks' half-yearly monitoring of current accounts and CC/ODs to ensure compliance and to assess the banking system's aggregate exposure, computed using CRILC, CICs, NeSL and customer declaration; banks with less than ten percent exposure have limited debit rights with defined exceptions, escrow arrangements must include lending banks and non-lender banks cannot act as escrow agents. en-us Mon, 14 Dec 2020 00:00:00 +0530 Thu, 05 Aug 2021 19:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65005 Banks may open current accounts for specified statute- or regulator-mandated purposes provided the accounts are used only for permitted transactions, flagged in the CBS, and subject to banks' half-yearly monitoring of current accounts and CC/ODs to ensure compliance and to assess the banking system's aggregate exposure, computed using CRILC, CICs, NeSL and customer declaration; banks with less than ten percent exposure have limited debit rights with defined exceptions, escrow arrangements must include lending banks and non-lender banks cannot act as escrow agents. Circulars RBI Mon, 14 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65005