<span style="color: #222222;">The Reserve Bank of India yesterday eased Current Account Rules for bank exposures less than five crore rupees allowing lenders to open current accounts, cash credit and overdraft facilities without any restriction. The Apex Bank asked banks to implement the changes within one month.<br />''<br />''The RBI said, in its guidelines that for borrowers, where the exposure of the banking system is less than five crore rupees, there is no restriction on the opening of current accounts or on the provision of CC/OD facility by banks, subject to obtaining an undertaking from such borrowers that they will inform the banks, as and when the credit facilities availed by them from the banking system reaches five crore rupees or more. It added that borrowers where the exposure is more than five crore rupees, will continue to maintain current accounts with any one of the banks with which they have cash credit or overdraft facility, provided that the bank has at least 10 per cent of the exposure of the banking system to that borrower.<br />''<br />''The banking regulator also permitted banks to open and maintain inter-bank accounts, all accounts with institutions like EXIM Bank, NABARD, NHB and SIDBI account attached by orders of Central or State Government and investigative agencies without any restrictions. The RBI also clarified that other lending banks will only be allowed to open collection accounts and the money deposited in those accounts will be remitted within two days of receiving the funds. The Central Bank also said that in case none of the lenders have at least 10 per cent exposure of the banking system to the borrower, the bank having the highest exposure can open current accounts.<br />''<br />''RBI's new rules aim to discipline current account usage to monitor cash flows efficiently and control siphoning of funds by regulating an already over-regulated sector.</span><br />