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The Reserve Bank of India (RBI) has introduced significant changes to provide relief to ordinary customers. These new changes apply to Basic Savings Bank Deposit (BSBD) accounts, also known as zero-balance accounts. The changes include unlimited deposits every month, free ATM or debit card usage without any renewal fees, a free checkbook with at least 25 pages annually, internet and mobile banking, and a passbook or monthly statements.

Banks will be required to allow a minimum of four free withdrawals per month, including transactions at their own ATMs and other banks' ATMs.

Major Relief on Digital Payment Transactions

Digital payment transactions such as UPI, IMPS, NEFT, and RTGS will not be counted as withdrawals under this quota. This means users will not be charged separately for these digital transactions.

Existing BSBD account holders can request the newly introduced features, while regular savings account holders can convert their accounts to BSBD accounts, provided they do not already hold an account with another bank.

When will these changes be implemented?
These new changes will come into effect from April 1, 2026, although banks may adopt them earlier. This is left to their discretion.

The RBI has issued new guidelines to update its Responsible Business Conduct Directions, 2025. This will formally change the framework of Basic Savings Bank Deposit (BSBD) accounts offered by banks.

The new rules enhance the minimum facilities that will be available to all BSBD account holders, providing greater accessibility for low-value deposit holders.

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