https://www.taxtmi.com/news?id=57492 The Reserve Bank expanded Basic Savings Bank Deposit (BSBD) account services to include free digital banking while maintaining free cash deposit and withdrawal provisions; BSBD accounts remain subject to the Prevention of Money Laundering Act, RBI KYC/AML instructions, and may be opened under simplified KYC, with strengthened Internal Ombudsman and RBI Ombudsman mechanisms and an exclusivity requirement prohibiting other savings accounts in the same bank. en-us Wed, 01 Oct 2025 12:16:03 +0530 Wed, 01 Oct 2025 12:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=57492 The Reserve Bank expanded Basic Savings Bank Deposit (BSBD) account services to include free digital banking while maintaining free cash deposit and withdrawal provisions; BSBD accounts remain subject to the Prevention of Money Laundering Act, RBI KYC/AML instructions, and may be opened under simplified KYC, with strengthened Internal Ombudsman and RBI Ombudsman mechanisms and an exclusivity requirement prohibiting other savings accounts in the same bank. News - Wed, 01 Oct 2025 12:16:03 +0530 https://www.taxtmi.com/news?id=57492