Mumbai: The Reserve Bank of India (RBI) has released a draft circular aimed at improving Basic Savings Bank Deposit (BSBD) accounts, also known as zero balance accounts. The goal is to make banking easier, more digital, and transparent, especially for low-income account holders.

What Are BSBD Accounts?

BSBD accounts do not require a minimum balance. These include accounts opened under the Jan Dhan Yojana and total more than 5.66 crore in number. So far, over Rs 2.67 trillion is deposited in these accounts. Customers can deposit and withdraw money freely and receive government benefits without maintaining any minimum balance. Read Also RBI Proposes Easier Rules For Companies To Raise Foreign Currency Loans

New Free Facilities Proposed by RBI

According to RBI’s proposal, BSBD account

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