Mumbai: There is good news for Savings Bank deposit account holders. Reserve Bank of India on Monday relaxed the norms enabling them to enjoy several facilities without having to maintain any minimum balance.
The key takeaways:
1. According to news agency PTI, RBI has asked the banks to provide basic Savings Bank account holders certain minimum facilities such as the issue of cheque book free of charge.
2. The facilities include four withdrawals from ATMs in a month, deposit of cash at a bank branch and ATM-cum-Debit Card.
3. There will also be no limit on the number and the value of deposit that can be made in a month by a Savings Bank deposit account holder.