RBI has taken a big and historic decision for Zero-Balance i.e. BSBD (Basic Savings Bank Deposit) Account Holders. Now the scope of facilities available to BSBD Accounts has been expanded, due to which these accounts will now provide facilities like full-featured Savings Account – that too without any minimum balance and no additional charges. Under the new rules, now you can deposit cash in Zero-Balance account as many times as you want, there will be no limit on this. Besides, the facility to order money online or by cheque will also be provided. This will provide great relief to students, financially weak people and those using basic banking. Customers will now get ATM or ATM-cum-Debit Card without any annual charge. Apart from this, check book of at least 25 pages in a year, free internet banking, free mobile banking, and free passbook or monthly statement will also be made available. To withdraw cash, customers will get at least 4 free withdrawals every month. The special thing is that digital transactions—UPI, NEFT, RTGS, IMPS, PoS—will not be counted in the limit of these four free withdrawals. The most important change is that banks will no longer be able to discriminate against BSBD account holders, and will have to provide them the same facilities as other customers.

Reserve Bank of India (RBI) has announced some changes after its fresh Monetary Policy Committee (MPC) meeting, which can prove to be the game changer especially for middle class and small investors, where Repo Rate has been kept stable at 5.50%. RBI has taken two major decisions that can increase the liquidity of investors. Loan Against Shares Limit has been increased from ₹ 20 lakh to ₹ 1 crore. Now if you have share, then you can get more funding in return, which can improve your liquidity or any business for business. For Need. IPO Financing Limit has been increased to ₹ 25 lakhs. It means that now small and mid-level investors can also participate in IPOS with a bigger stake. This step is a big chance towards increasing the financial power and opening new ways of investment for middle class.

A big change is coming in India’s banking sector! Nearly a decade later, the government and RBI together are preparing to issue new bank licenses. This time, not only small players, but even big corporate houses can enter the banking sector! Recently, Bloomberg’s report revealed that the RBI and the Finance Ministry are working together on a vision where NBFCs may also be allowed to become a full-fledged bank and the entry of foreign investors can also be easier. The biggest twist is that this time industrial groups can also get a bank license – with certain conditions. If this happens, it can prove to be a game changer for India’s financial system. But at the same time, it will also be a sensitive decision in which transparency and control will be extremely important. Know the complete details in this video, what will be the effect and how the market reacted