Opening of Current Accounts by Banks - Need for Discipline

Banks should verify from the data available in CRILC database whether the customer is availing of credit facility from another bank. Further banks may also seek ‘No Objection Certificate’ from the drawee bank where the initial deposit to current account is made by way of a cheque. As also from the bank with whom the customer is supposed to be enjoying the credit facilities as per his declaration.
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Based on the RBI Circular dt 2/7/15.

Please visit www.rbi.org.in  for any further clarification if required…………….. Poppy