Mumbai, Oct. 1 -- RBI announces regulatory policy measures relating to Consumer Protection. Here is a detailed account of the same.

Review of instructions on Basic Savings Bank Deposit (BSBD) Account

BSBD Account is a savings bank account which was introduced with the objective of promoting financial inclusion. The extant instructions on BSBD account require banks to provide certain minimum facilities free of charge, without the requirement of minimum balance, to the holders of such accounts. The ongoing digitalization in the banking sector necessitates a BSBD account that is in sync with the customer's changing requirements. Therefore, it has been decided to review the extant instructions on BSBD account to provide affordable banking f...