The claim that RBI has issued guidelines regarding imposing penalty for keeping more than one bank account is fake and fabricated. No such order has been issued by RBI.
New Delhi (Viswas News). After the presentation of the first budget for the third term of the Modi government, a post went viral on social media claiming that as per the new directives from the Reserve Bank of India (RBI) governor, now there will be a penalty for having an account in more than one bank.
Vishvas News found in its investigation that the viral claim is fake. Neither any such guideline has been issued by RBI nor is there any provision on the part of banks to charge a penalty from an account holder for having an account in more than one bank.
What is viral?
Social media user ‘Shani Yadav’ went viral Post id=’action_msg_1373’> Link) while sharing it, he wrote, “There will be a heavy penalty for having accounts in two banks, RBI governor has issued a new guideline RBI Banking Rule.”
Many other users on different social media platforms have shared this post with similar and identical claims.
investigation
Since the viral post has mentioned the new guidelines from RBI, we checked the RBI website. In the search, we did not find any information or guidelines that mention the instructions given to banks to charge penalty from account holders for having accounts in more than one bank.
We have the latest information on RBI website guidance Related to ‘Regulatory Principles for Management of Model Risks in Credit’.
Axis Bank’s Website According to the information available, “There is no legal limit on the number of bank accounts.” That is, any person can open multiple accounts.
of Kotak.com Website But having more than one bank account is said to be a better way of financial management.
Also, it is mentioned here that there is no condition or compulsion to open more than one account. It is up to the account holder to decide in how many banks he can keep different accounts.
However, three important conditions must be met to open an account. First, the person opening the account must be at least 18 years of age and if the account is being opened for a minor, it will be managed by the guardian or parent.
secondly, the person opening the account should be a citizen of India or an NRI and (third) you have to comply with the KYC norms of the Reserve Bank of India (RBI) while opening the account.
In the search, we found the name of PIB, the nodal information agency of the Central Government. Tweet Also found was an ad which said that the claim was fake and added, “RBI has not issued any guidelines regarding imposing penalty for having accounts in more than one bank.”
Also, people have been appealed to be cautious of this rumour.
We contacted RBI regarding the claim made in the viral post. “We were told that there is no truth in the said claim.”
Fact check reports of other viral claims related to finance and economy are provided by Vishvas News Business Section Can be read in.
Conclusion: The claim that RBI has issued guidelines to impose penalty for maintaining accounts in two banks is fake and fabricated. No such order has been issued by RBI.
- Claim Review : According to the new RBI guidelines, there will be a penalty for keeping two bank accounts.
- Claimed By : FB User-Shani Yadav
- Fact Check : Lie
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2024-08-06 13:59:53