RBI asks banks to be cautious on inoperative account payments
November 24th, 2014 by CHEQUEMAN
The Reserve Bank has asked banks to exercise caution before making payments to customers claiming funds lying idle in inoperative accounts. “Banks are advised to invariably verify the genuineness of the transactions and ensure that the amounts paid to the customers are properly audited by the internal auditors / statutory auditors,” RBI said in a […]