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Reserve Bank of India Eases Norms for No-Frills Accounts - (11 Jun 2019)

BANKING

Reserve Bank of India has eased the norms for the Basic Savings Bank Deposit (BSBD) accounts popularly known as no-frills accounts by allowing banks to provide cheque books and other facilities like minimum four withdrawals to basic account holders. However, the banks cannot ask the BSBD account holders to maintain any minimum balance in lieu of such facilities.

Tags : RESERVE BANK OF INDIA   NO-FRILLS ACCOUNTS  

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