RBI Says Banks Can Set Minimum Savings Account Balances, Outside Its Regulatory Control

The Reserve Bank of India clarified that banks have the autonomy to set minimum balance requirements for savings accounts, which is outside RBI's regulatory scope. In Mumbai, the civic authority reinstated protective covering over a pigeon feeding area after it was removed by agitators, amid threats of protest from a religious community opposing restrictions on pigeon feeding, citing religious rights and noncompliance with court orders. Separately, multiple fatal accidents occurred in Maharashtra and Madhya Pradesh involving vehicles on hilly terrain and collisions, resulting in several deaths and injuries. Additionally, a bank in Madhya Pradesh was robbed of significant gold and cash, with police noting delayed reporting by staff. Political allegations surfaced in Maharashtra, with opposition leaders accusing the ruling party of corruption, electoral fraud, and undermining democratic processes.