A BJP MP from Maharashtra has asked RBI Governor Urjit Patel to look into complaints with regards to banks misinterpreting a RBI circular on savings bank accounts held by co0perative housing societies.
In a letter to Patel, BJP MP Gopal Shetty said there have "multiple instances" wherein banks have wrongly debited savings bank account of housing societies and even closed a few accounts.
"When asked for explanation...they (banks) gave evasive answers referring to (the July 2015) RBI circular," the letter said.
The circular relates to interest rates on rupee deposits held in domestic, ordinary non-resident (NRO) and non-resident (External) (NRE) accounts.
The MP asked the RBI for a "quick intervention and corrective action" in the matter.
He also demanded that accounts which have been closed should be re-instated, and debited money be returned.
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