Court Upholds RBI Rule Restricting Multiple Bank Current Accounts for Customers with Existing Credit Facilities.

Court Upholds RBI Rule Restricting Multiple Bank Current Accounts for Customers with Existing Credit Facilities. https://www.taxtmi.com/highlights?id=68804 Restriction on having current account with other banks if that customer already had credit facilities in the form of Cash Credit/Export Packing Credit (CC/EPC) in the banking system. - RBI banking Policy - Appliability of RBI circular is not erroneous - granting the Petitioner relief would in effect not only run directly contrary to the circular but would possibly permit the continuance or growth of the very mischief that is sought to be addressed. - HC en-us Mon, 20 Mar 2023 08:32:35 +0530 Mon, 20 Mar 2023 08:32:35 +0530 TaxTMI RSS Generator Court Upholds RBI Rule Restricting Multiple Bank Current Accounts for Customers with Existing Credit Facilities. https://www.taxtmi.com/highlights?id=68804 Restriction on having current account with other banks if that customer already had credit facilities in the form of Cash Credit/Export Packing Credit (CC/EPC) in the banking system. - RBI banking Policy - Appliability of RBI circular is not erroneous - granting the Petitioner relief would in effect not only run directly contrary to the circular but would possibly permit the continuance or growth of the very mischief that is sought to be addressed. - HC Highlights Indian Laws Mon, 20 Mar 2023 08:32:35 +0530 https://www.taxtmi.com/highlights?id=68804