RBI Governor Sanjay Malhotra met bank chief executives, emphasizing that rate cuts and technology adoption should lower costs and boost efficiency for sustainable growth and financial inclusion. He also urged banks to enhance digital fraud safeguards and improve customer service by reducing grievances and strengthening internal systems.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.