Business EconomyPosted at: Aug 7 2025 1:37AM


Strict RBI guidelines on Savings accounts for trusts & public institutions come into effect

Pune, Aug 6 (UNI) Following implementation of the Reserve Bank of India (RBI)’s revised Master Directions effective from April one, stringent restrictions have been imposed on Savings accounts held by public trusts and charitable institutions, said Sandeep Khardekar, director of Udyam Cooperative Bank, here today.
He said as per the new guidelines, only registered, tax-exempt charitable trusts that meet specific eligibility criteria will be permitted to hold Savings deposit accounts in cooperative banks.
All other ineligible institutions must have their Savings accounts converted to Current accounts, Khardekar added.
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