The RBI vide circular dated 02.11.2020 has extended time for compliance with requirements regarding Opening of Current Accounts by Banks. The RBI vide circular dated August 6, 2020 has directed borrowers covered under guidelines on loan system for delivery of bank credit issued vide circular dated December 5, 2018 for bifurcation of working capital facility into loan component and cash credit component shall henceforth be maintained at individual bank level in all cases, including consortium lending, which was to be complied within a period of three months from the date of issue of the circular i.e. by November 5, 2020. The due date of the compliance is hereby extended till December 15, 2020.
