Is there a fine for having more than one bank account? What are the actual RBI rules? Learn the real facts about multiple accounts and how to avoid fines. Now you have to pay a fine of 10 thousand rupees if you have more than one bank account. RBI has issued such strict rules.

You must have seen many such reports or news so far, but you will be surprised to know that these are half-truths.

RBI has not given any government directive that you have to pay a fine if you have more than one bank account.

According to RBI, any customer can have more than one savings account. You don’t have to pay any kind of fine for that.

So if you get any such information anywhere before, verify it before sharing it. Because if you share wrong government information, the administration can take strict action against you.

RBI has informed that if a person has multiple bank accounts and any fake transaction is found in that account, then a hefty fine will have to be paid.

RBI has taken such a decision to reduce scams and thefts. So you can understand what kind of bank account you may have to pay a fine for.

A fine of 10 thousand rupees has to be paid if there are wrong transactions in more than one account. If the money is not paid, the bank can take legal action.

According to the new guidelines, a fine will have to be paid if there are any suspicious transactions in two or more accounts in multiple banks of a person.

If you want to avoid this problem, you have to keep account records and use valid accounts.