Core Viewpoint - The Reserve Bank of India (RBI) is proposing significant enhancements to Basic Savings Bank Deposit (BSBD) accounts to align them with India's digital transformation, aiming to make these accounts more inclusive and customer-friendly by introducing features like mobile banking, free cheque books, and unlimited digital transactions [1][5]. Group 1: Overview of BSBD Accounts - BSBD accounts are designed to promote financial inclusion, requiring no minimum balance and offering limited free services, mandated for every bank [2]. - Currently, these accounts allow basic transactions such as cash deposits and withdrawals, but digital services are limited, with only four free withdrawals allowed per month [3][4]. Group 2: Proposed Changes - The RBI's draft circular proposes to expand free services for BSBD accounts, including mobile and internet banking by default, at least 25 free cheque leaves per year, unlimited deposits, and unlimited free digital transactions [6]. - Customers will benefit from features that make BSBD accounts resemble regular savings accounts, without the burden of maintaining minimum balances [7]. Group 3: Impact on Customers and Banks - The new features will enhance accessibility for rural and low-income customers, providing parity with regular accounts and encouraging cashless transactions [8][9]. - The RBI's move may prompt banks to rethink their strategies for attracting deposits, as maintaining low-balance accounts has been costly due to compliance and fraud risks [11][12].