Indian private sector and foreign banks are miffed with the Reserve Bank of India (RBI) for taking away the lucrative current account business from them. In the policy statement on 6 August 2020 , a five-page document titled Opening of Current Accounts by Banks—Need for Discipline (read here) became the focus of dark mutterings in the plush boardrooms of private and foreign banks. Very simply put, RBI has put restrictions on who can open a current account with which bank. A company that has borrowed from a bank cannot open a current account with another bank. It can open a current account with its lending banks under some circumstances, otherwise it is encouraged to use the cash credit and overdraft facilities under which it has borrowed (read here). A current account is like a savings bank account, but with many facilities for swift and multiple transactions, overdraft facilities and it carries no interest. Banks like to sell these accounts as they enjoy huge floats, or money that just sits with the bank waiting to be used by the depositing firms.