On 4-12-2025, the Reserve Bank of India issued 7 Amendment Directions to amend the extant instructions on the Basic Savings Bank Deposit account applicable to Banks.
Objectives:
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to provide affordable banking facilities to public;
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drive enhanced usage of Basic Savings Bank Deposit accounts;
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to improve customer service for Basic Savings Bank Deposit account holders.
Background:
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The Basic Savings Bank Deposit account was introduced as a savings bank account which offers certain minimum facilities to the holders of such accounts, free of charge.
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The main objective was to deepen financial inclusion.
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However, the ongoing digitalization of the banking sector requires a Basic Savings Bank Deposit account that is in sync with the customer’s evolving requirements.
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Therefore, it was necessary to review the extant instructions and draft Reserve Bank of India (Basic Savings Bank Deposit Account) Directions, 2025 which were issued on 1-10-2025.
Hence, the Reserve Bank of India has issued the following 7 amendment directions to amend the extant instructions:
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Reserve Bank of India (Commercial Banks- Responsible Business Conduct) Amendment Directions, 2025;
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Reserve Bank of India (Small Finance Banks- Responsible Business Conduct) Amendment Directions, 2025;
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Reserve Bank of India (Payments Banks- Responsible Business Conduct) Amendment Directions, 2025;
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Reserve Bank of India (Local Area Banks- Responsible Business Conduct) Amendment Directions, 2025;
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Reserve Bank of India (Regional Rural Banks- Responsible Business Conduct) Amendment Directions, 2025;
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Reserve Bank of India (Urban Co-operative Banks- Responsible Business Conduct) Amendment Directions, 2025;
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Reserve Bank of India (Rural Co-operative Banks- Responsible Business Conduct) Amendment Directions, 2025.