RBI imposes restrictions on withdrawal from certain bank accounts
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The RBI in a notification said withdrawal or transfer of funds will not be permitted in accounts without quoting of PAN or submission of Form 60 (persons who do not have PAN).
The Central Bank also said monthly withdrawal limit of 10,000 rupees will be maintained even if a 'small account' has witnessed increase in annual permissible deposit of one lakh rupees. The notification follows after it was brought to the notice of the RBI that strict compliance with KYC provisions is not being ensured in some cases.#casansaar (NewsonAir)
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