Rules for Zero Balance Account: RBI has simplified the rules for zero-balance accounts. Digital payments, cash withdrawals, debit cards, checkbooks, and passbooks are now completely free.

Millions of bank accounts in the country are zero-balance accounts. This benefits people incurring no charges even if they don't maintain the minimum balance. Now, RBI has taken some more steps to provide relief to those with zero-balance accounts.

Previously, many banks used to impose various charges on zero-balance accounts, exacerbating these difficulties. However, now the rules have been significantly simplified. The new changes will significantly benefit rural, small-town, and everyday digital users.

The biggest benefit is the easing of rules related to digital payments. Many banks used to treat UPI, IMPS, or NEFT transactions as withdrawals, which caused inconvenience to users. Now, the new rule clearly states that any digital transaction will not be considered a withdrawal. As a result, digital payments in zero-balance accounts will be completely free and unlimited.

Cash-intensive users will also be relieved of the fear of charges. According to the new rules, banks will be required to provide at least four free cash withdrawals per month, whether from their own ATMs or those of other banks. This will be a significant benefit to those who cannot go digital or who need to keep cash.

Significant relief has also been provided on debit cards. Previously, many banks charged annual fees and renewal fees. Now, this facility will be free. This means that ATM or debit cards issued on zero-balance accounts will be issued without any annual charge.

Regulations regarding checkbooks and passbooks have also been changed. Customers will now receive a free checkbook of at least 25 pages every year. Additionally, banks will be required to provide passbooks and monthly statements free of charge. Previously, banks used to charge various fees for these.

There will also be no limit on depositing money into zero-balance accounts. Previously, some banks had rules regarding continuous deposits. However, now customers will be able to make unlimited cash or digital deposits as many times as they wish. These new rules will come into effect nationwide from April 1, 2026. However, banks can implement them earlier if they wish.