RBI Policy
To review instructions on basic savings bank deposit account
This story was originally published at 17:26 IST on 1 October 2025
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MUMBAI – The Reserve Bank of India Wednesday announced a review of existing instructions on basic savings bank deposit account to provide affordable banking facilities to the public, it said in the statement for developmental and regulatory policies. The central bank also aims to drive usage of these savings accounts to promote and deepen financial inclusion.
The instructions require banks to provide some minimum facilities free of charge, without the requirement of minimum balance, to the holders of such accounts, the RBI said. The ongoing digitalisation in the banking sector requires basic savings bank deposit accounts to align with the evolving needs of customers.
In a unanimous decision on Wednesday, the RBI's Monetary Policy Committee left the policy repo rate unchanged at 5.50%. It also retained its 'neutral' policy stance. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Muskan Lodhi
Edited by Avishek Dutta
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