Hyderabad, September 21 (Siasat News): RBI has directed all Commercial Scheduled banks to open no frill accounts for students. As per the order issued by RBI it is obligatory for all bankers to open zero-balance account for minority students and pave way for getting scholarships.
Ministry of Minority affairs reported that new orders have been issued by RBI after reviewing the problems faced by the students. In view of the problems faced by the students in opening accounts last month, Mr. Vivek Malhotra secretary, ministry of minority affairs took serious note and after counseling the officials of RBI and finance ministry asked RBI to direct all Commercial banks not to refuse to open no frill accounts for minority students.
——–Siasat News