Reserve Bank of India (RBI) has issued draft directions for the basic savings bank deposit (BSBD) account, proposing a revamp of rules to make such accounts more customer-friendly and aligned with the growing digitalisation of banking. The draft, released for public comments , aims to improve customer service, enhance usage of BSBD accounts, and deepen financial inclusion. BSBD accounts, often described as 'no-frills' accounts, are designed to provide affordable and basic banking facilities without requiring a minimum balance. Under the draft, every bank will be required to offer such an account as part of its normal services, with a set of minimum facilities provided free of charge. These include cash deposits at branches, ATMs or cash deposit machines; receipt of money thro

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