Menu
Inshorts
For the best experience use inshorts app on your smartphone
inshortsinshorts
RBI stops banks from recovering negative balance of customers
short by / on Tuesday, 14 May, 2024
Recent RBI guidelines state that banks cannot recover money for negative balances in accounts. With most banking done online, situations arise where accounts go into minus due to difficulty in maintaining minimum balances, especially when managing multiple accounts. However, according to the new rules, banks cannot demand repayment for these negative balances.
read more at Trak