General Studies · RBI Regulations
When opening a Current Account for a customer, banks must follow specific RBI directives regarding credit facilities from other banks. What is the primary objective of these RBI regulations?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To monitor unauthorized access to deposit insurance benefits across different banks.
- 2To curb tax evasion through undisclosed multi-bank income flows.
- 3To prevent credit indiscipline, diversion of funds, and default on loans under multiple banking arrangements.✓
- 4To prevent uncontrolled growth in the customer's aggregate overdraft facility.
Correct answer
To prevent credit indiscipline, diversion of funds, and default on loans under multiple banking arrangements.
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