Cash Deposit Rule: RBI Governor Issues New Guidelines on Bank Account Balances

Cash Deposit Rule: The majority of people in India have their own bank accounts where they deposit their earnings. Because our money is entirely safe in the bank, people put their money there. Our nation's national bank, the Reserve Bank of India, or RBI, occasionally issues new regulations that take into account banks.

However, a WhatsApp message that claims the RBI (Reserve Bank of India) has issued a new guideline for all bank account holders has been making the rounds over the past few days. As a result of this regulation, bank account holders will now have their accounts canceled if they deposit more than Rs 30,000.
The reality of this viral message and information regarding the Cash Deposit Rule will be revealed in today's article because many individuals are unable to discern how much of this message is true and how much is a falsehood.

Cash Deposit Rule

This is the truth of RBI Governor viral message

The news that our country's RBI Governor Shaktikanta Das has issued new Cash Deposit Rules for all bank holders has been making the rounds on WhatsApp for a while. According to these rules, if any account holder deposits more than Rs 30,000 in his bank account, it will be subject to penalties.  A person's bank account will be closed if they deposit money there.
However, this is a phony viral message that is completely untrue.  You don't have to believe this because the governor of the RBI hasn't announced a new rule of this nature.  You are free to deposit whatever amount of money into your bank account; the RBI has not yet published a new regulation on this.

According to RBI these are the Cash Deposit Rules

If we were to share with you the RBI's guidelines for cash deposits into bank accounts, they would state that if more than Rs 10 lakh in cash is placed within a year, it should not be done so in a savings account. They must therefore alert the tax authorities to this.


If we talk about current bank account, there is no limit on it, but whatever cash you deposit in your current account, you must give information about all those things while filing your ITR file.

PIB also did Fact Check

PIB (Press Information Bureau) also fact checked this viral message so that no fear is created among the people.  Fact Check of PIB has also declared this message to be fake and they have given this information on their Twitter account.

PIB tweeted during the fact-checking of this message, "It is being reported in a news that the Governor of the Reserve Bank of India has made an important announcement regarding bank accounts that if any account holder has If it is more over Rs 30,000 then his account would be canceled.
According to a news report, the Governor of the Reserve Bank of India has issued a significant announcement regarding bank accounts, stating that any account holder with more than Rs 30,000 in their account will have their account canceled.

There is no need to believe such messages since, as PIB stated further in the tweet, "This news is completely fake, RBI has not taken any such decision."

This is how PIB gets fake messages investigated

You can also ask the Indian agency PIB to confirm any other message or news item that you are doubtful of. They have a website that you may access at pib.gov.in, or you can WhatsApp them at +918799711259.

After confirming the accuracy of the message or news, the PIB will subsequently update you. We trust that reading this post informed you on the Cash Deposit Rule and gave you a better understanding of the viral nature of the message. To read more articles like this, keep coming back to our website.0

Post a Comment

Previous Post Next Post
WhatsApp Group Join Now
Telegram Group Join Now
WhatsApp Group Join Now
Telegram Group Join Now