In an attempt to curb cross-border terror funding, the Reserve Bank of India (RBI) has asked the banks operating in the North East to closely monitor the accounts of the customers. According to the Executive Director of RBI, Mr HR Khan, banks in the North East have been asked to remain vigilant and extra cautious in this regard considering the gravity of the situation. Mr Khan stated that as this region shares international border and therefore more vigilance would be needed to avoid such incidents. To overcome the problem, the existing KYC (know your customer) rules have been strengthened, he added.<br/>It may be recalled that RBI recently issued a circular asking the banks and financial institutions to scan all existing accounts to ensure that these are not held by or linked to any entity or individual figuring in the UN list of terrorists or terror-related organisations.<br/><br/>