If you have two bank accounts, will you have to pay penalty? Know what is the truth of the claim announced by RBI

There are many individuals in India who have multiple bank account. In such a scenario, the information that if you have multiple bank account, you will have to pay a high-quality, can upset folks. Especially these individuals who work in non-public firms. Actually, most of the folks working in non-public firms have multiple bank account.

This is as a result of as quickly as you swap firms and go to one other firm, that firm opens your wage account in its tie-up bank. By doing this, some folks open accounts in two or 4 or 5 banks. Let us now know what is the truth of this claim.

First know what is the claim

Recently, a put up is going viral on social media, through which it has been claimed that if you have multiple bank account then you may be fined. In this claim, referring to former RBI Governor Shaktikanta Das, it has been mentioned that RBI has issued a brand new guideline, below which if an individual has two bank accounts, then he will be punished with a strict penalty. Let us now know the truth of the claim.

what is the truth

PIB has reality checked this claim. The Press Information Bureau on Sunday referred to as this claim pretend. PIB wrote that some articles are spreading the false impression that if you have two bank accounts then you will be fined. Whereas, RBI has not issued any such guideline. That means this claim is fully pretend. PIB mentioned that you ought to keep away from such information and rumours.

How many bank accounts can an individual have?

The quantity of bank accounts an individual can keep in India is not mounted. That is, there is no restrict on what number of bank accounts an individual can open in India. You can open any quantity of bank accounts as per your want and desires. RBI has not set any restrict for this. However, the extra bank accounts you open, the extra you have to take care of them. That means a hard and fast quantity has to be stored in them. If you don’t do that then it will probably have an effect on your CIBIL rating.

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