Cheque books for no-frills accounts
12, Jun 2019
Prelims level :
Mains level :
CONTEXT:
- The RBI has allowed banks to offer cheque book facility and other services to the no-frills account holders.
- But they could not ask such account holders to maintain any minimum balance for such services.
- As per the norms of no-frills account, account holders are not required to maintain minimum balance and can get certain minimum facilities for free.