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No-frills account holders to get cheque books, other perks
short by Shruti Maria Mahendar / on Monday, 10 June, 2019
The RBI has relaxed the norms for no-frills accounts, directing banks to provide cheque books and other facilities to basic account holders. The banks cannot ask account holders to maintain any minimum balance for such facilities. Earlier, additional facilities made these accounts similar to regular savings accounts, making it mandatory to maintain a minimum balance and be levied other charges.
read more at Bloomberg Quint