ETV Bharat / business

No-Frills Account Holders Can Now Access Digital Banking Facility Free Of Cost

RBI Governor Sanjay Malhotra said the Internal Ombudsman mechanism is proposed to be strengthened to make grievance redressal by regulated entities more effective.

Mumbai: No-frills account holders can now use the digital banking facility free of cost, as the Reserve Bank on Wednesday expanded the bouquet of services offered to Basic Savings Bank Deposit (BSBD) accounts. BSBD accounts are designed to provide essential banking services to account holders free of cost.

Some of the services which are offered by banks free of charge are cash deposit at bank branches as well as ATMs/CDMs, and a minimum of four withdrawals in a month, including ATM withdrawals.

"The bouquet of serv

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