On 29 October 2021, Reserve Bank of India has removed restrition on opening of current account by Cash Credit/ Overdraft limit holders.
Earlier RBI has made restriction that credit limit holder cannot open current account in other banks and due to this many businessmen has faced lot of problem.
Now RBI has removed the restriction on opening of Current accounts, Credit limits holders upto 5 crore can open thier current account anywhere without any restriction and they don’t have to give NOC from lending bank to other banks.
RBI Notification on current Account can be access from link given below :
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