PolicyET Techabout 2 hours ago
RBI Proposes 60-Day Debit Hold for Fraud
1 min read
The Reserve Bank of India has proposed amendments to its KYC Directions, 2025, allowing banks to place temporary debit holds of up to 60 days on suspected money mule transactions or accounts. The draft SOP, prompted by a Supreme Court order, requires banks to notify customers, seek explanations, and coordinate with law enforcement. The rule applies to all commercial and cooperative banks.
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