December 14, 2020
All Scheduled Commercial Banks
All Payments Banks
Madam / Dear Sir,
Opening of Current Accounts by Banks – Need for Discipline
Please refer to the circulars DOR.No.BP.BC/7/21.04.048/2020-21 dated August 6, 2020and DOR.No.BP.BC.27/21.04.048/2020-21 dated November 2, 2020 on the captioned subject. On a review, it has been decided to permit banks to open specific accounts which are stipulated under various statutes and instructions of other regulators/ regulatory departments, without any restrictions placed in terms of the above-mentioned circular dated August 6, 2020. An indicative list of such accounts is as given below:
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