MUMBAI, India, Sept. 11 -- Reserve Bank of India issued the following press release:
The Reserve Bank in its Know Your Customers (KYC) Directions, 2025 has issued instructions on 'Operations of Bank Accounts and Money Mules'. The Hon'ble Supreme Court in its order dated August 4, 2026 has directed the Reserve Bank to adopt and circulate a Standard Operating Procedure (SOP) prescribing the action to be taken by banks for placing temporary debit holds on amounts or accounts linked to money-mule activity and cyber-enabled fraud.
2. Accordingly, the Reserve Bank has today issued the following draft Amendment Directions for public comments, which propose to amend existing instructions on Operations of Bank Accounts and Money Mules as prescribe...