Current Account News

In a recent move, the Reserve Bank of India (RBI) has directed Bank of Baroda to suspend customer onboarding through its mobile application, bob World. This directive is expected to have significant implications on the bank's ability to sustain liability growth, ...

The Reserve Bank of India (RBI) said on August 4 that banks will have till October 31, 2021, to implement the current account circular's requirements. The RBI stated that banks can use the extra time to engage with their borrowers and reach ...

Current accounts have a higher number of transaction caps for monthly cash deposits and withdrawals relative to savings accounts. NPCI owns and operates the Unified Payments Interface (UPI) platform. Businesspersons can accept UPI payments without any difficulties managing SMS updates or remembering ...

On Monday, the Reserve Bank of India (RBI) issued a series of frequently asked questions (FAQs) on the 6 August circular with regard to the opening of current accounts. With effect from 15 December, certain exemptions have been allowed on current ...

India's current account surplus rose to $19.8 billion or 3.9 percent of GDP (gross domestic product) in the June quarter as merchandise imports declined sharply amid the COVID-19 pandemic, the Reserve Bank of India said on Wednesday. The current account ...

The apex banking authority has slapped the leading state-run lender SBI with a penalty of Rs. 7 crore for not meeting some of the specified norms in relation to NPA or non-performing assets identification and fraudulent risk management, among others. ...

The private-sector lender has now went digital in the current account opening. For this the bank has come with a dedicated app using which bank reps will be able to open current account for self-employed and business class in a matter ...