Mumbai: The Reserve Bank of India (RBI) on Monday said that banks need to offer holders of basic savings bank deposit (BSBD) accounts, a minimum of four withdrawals in a month, including automatic teller machine (ATM) withdrawals. “In the interest of better customer service, it has been decided to make certain changes in the facilities associated with the account," RBI said on Monday. The decision to avail such additional services, RBI said, shall be at the option of the customers. “However, while offering such additional services, banks shall not require the customer to maintain a minimum balance. Offering such additional services will not make it a non-BSBD Account, so long as the prescribed minimum services are provided free of charge," it said.

Source: Mint June 10, 2019 13:46 UTC