RBI Update for bank Customers.!? Pat Attention to this..!?
Bank savings account holders need to know how much they can keep in the account. Do you have a bank account? Are you a regular cashier?
If so, this article will help you. Some important details related to banking transactions and bank accounts can be found in this file. Most people in our country have a bank account. Everyone opens a bank account to deposit savings. The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india provides some updates to bank account holders from time to time. Even now such an update exists. Everyone should be aware. bank savings account holders need to know how much money they can keep in their account. Additionally, it is very important to understand other important banking regulations. Open a savings account to deposit your savings. But most people start trading more in this account, whether intentionally or unintentionally. Is it okay to do this?
What do the RBI regulations say about this? About these can be found here.
Bank customers can only deposit money into their savings accounts up to a certain limit. A notice from the Income Tax Department may be issued if a person has an amount exceeding the prescribed limit in his or her savings account. The RBI has laid down certain rules in this regard. Savings account owners should know these rules. How much can you keep in a savings account? There is no maximum limit for depositing money in a savings account as per RBI regulations. bank customers can deposit money into this account at their convenience and according to their needs. And you can withdraw money from your savings account conveniently. But you need to pay special attention to one thing. When the amount deposited in your savings account comes to the attention of the Income Tax Department (ITR) and is asked for details, you have to provide the relevant information. If more than Rs 10 lakh has been deposited in a bank account in a financial year then this information is mandatory.
This limit also applies to investments in fixed deposits, mutual funds, bonds and equity transactions. In any account, Rs 1,00,000 will not be allowed to be withdrawn or deposited, the RBI said. bank customers can make transactions worth Rs 10 lakh per year. However, customers can transfer money through online transfer, Paytm, phonePe or other mobile applications. customers can also use ATMs. To promote wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital banking, many banks have imposed limits on ATMs and deposits for customers. Thanks to that, customers can enjoy maximum benefits of online banking services. If your account is SBI, you do not need to maintain a minimum balance. But if your account is with another bank then you must maintain a minimum balance.