RBI Warning: Keeping Multiple Accounts May Lead to Rs 10,000 Loss

Big update from the Reserve Bank. Having multiple accounts in the same name could mean big trouble! A strict rule has been issued. The Reserve Bank of India has announced that holding multiple accounts will result in a hefty fine. 

Reserve Bank of India

The RBI has said a hefty fine will be imposed for having multiple accounts. When will this rule start? Who needs to be cautious?

New RBI rules

A strict rule has been issued by the RBI. This special rule might apply from next month. Having two or more accounts in the same name could lead to a big fine!

Having multiple accounts?

What's the new RBI rule? The RBI said if a person has multiple accounts, it can be a problem. You'll have to pay a crisp ₹10,000 fine for more than one account.

Know the fine

A hefty fine of ₹10,000 must be paid. If not paid, the bank can also take legal action. If any fraudulent transactions are found in that account, a hefty fine will definitely be imposed.

Suspicious transactions

A fine will be imposed for any suspicious transactions. You can't keep multiple accounts with many fake transactions. So, customers must be careful!