Have more than one bank account? NEW RBI rules to charge penalty? Know here

Heavy fines for having more than one account. Multiple bank accounts will no longer be allowed as per RBI

A hefty fine of Rs 10,000 will be imposed for maintaining multiple bank accounts. RBI issues new rules on bank accounts, potentially causing difficulties for the common people

The Reserve Bank of India has recently issued new rules for security reasons. As per the new guidelines, penalties will be levied for suspicious transactions in two or more accounts held by an individual

Under the new rules, RBI will impose heavy fines for suspicious transactions in any account. To avoid these issues, maintain account records and use legitimate accounts