In india, a lot of individuals own multiple bank accounts. In such a situation, the news that you might have to pay a penalty if you have multiple bank accounts can be concerning for people.
 
This is particularly true for employees of private businesses. The majority of workers in private companies really have many bank accounts. This occurs as a result of the new employer opening your pay account with their affiliated bank when you change jobs. Some wind up opening accounts with two, four, or even five banks in this manner.
 
What's the assertion?
 
A social media article that recently went viral said that having several bank accounts might result in penalties. Former RBI governor Shaktikanta Das is cited in this assertion, which states that the RBI has released new guidelines that impose severe penalties for maintaining two bank accounts. Let's now investigate the veracity of this assertion.
 
What is the truth?

This claim has been verified by PIB. This allegation was deemed false by the press Information Bureau on Sunday. According to PIB, certain articles are propagating the myth that there is a penalty for having two bank accounts. But the RBI hasn't released any such instructions. This indicates that the assertion is wholly untrue. people were cautioned by PIB to avoid such rumors and misinformation.
 
The number of bank accounts that a person can own is unrestricted in India. Stated differently, an individual in india is free to create as many bank accounts as they want or choose. The RBI has not imposed any restrictions on this. You will need to pay more attention to managing your bank accounts, though, the more you have. This implies that you must keep a specific balance in each of them. Failing to do so may result in a lower CIBIL score.
 
 
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SIBY JEYYA

12/12/2024 12:27 PM