The Supreme Court (SC) has asked the Reserve Bank of India (RBI) to prepare and circulate an SOP for dealing with mule accounts, those linked to cyber fraud. Mule accounts are bank accounts that are used to siphon off money (earned through wrong means) to other bank accounts or abroad so that it becomes difficult to trace originality. (This is developing news) Post navigation RBI issues new FD rules:Small finance banks will now have to provide complete information about interest rates in advance; Know – 5 major changes Centre summons Meta over failure to curb sexual abuse content:Also seeks answers on wrongful action against politicians’ and VIPs’ accounts
