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LATEST NEWS UPDATES | RBI's 2018 notification excluded Muslims from Pakistan, Bangladesh to open bank account in India -Manoj Sharma

RBI's 2018 notification excluded Muslims from Pakistan, Bangladesh to open bank account in India -Manoj Sharma

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published Published on Dec 23, 2019   modified Modified on Dec 23, 2019
-BusinessToday.in

The notification was first issued in March 2018 after a nod from the Ministry of Home Affairs and the Department of Economic Affairs, following which it was made mandatory for banks to mention the religion of a person from Pakistan and Bangladesh for opening an account in India

Even as the protests over the recently passed Citizenship Amendment Act have brought India to a standstill, the Reserve Bank of India (RBI) had issued a notification, allowing only religious minorities from Pakistan and Bangladesh to open NRO (non-resident ordinary) accounts in India way back in March, 2018.

The notification was first issued in March, 2018, after a nod from the Ministry of Home Affairs and the Department of Economic Affairs, following which it was made mandatory for banks to mention the religion of a person from Pakistan and Bangladesh for opening an account in India. There was no such restriction prior to that.

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BusinessToday.in, 21 December, 2019, https://www.businesstoday.in/top-story/rbi-2018-notification-excluded-muslims-from-pakistan-bangladesh-to-open-bank-account-in-india/story/392414.html


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