Banks are required to offer a Basic Savings Bank Deposit account with no requirement of a minimum balance.

The signatures of both/ all the depositors need not be obtained when repaying Fixed /term deposits opened with operating instructions 'either or surviviour' or 'former or survivour', However, the signatures of both/ all depositors will be required in case the deposit is to be paid before maturity

In case of term deposits with "Either or Survivor" or "Former or Survivor" mandate, banks are permitted to allow premature withdrawal of the deposit by the surviving joint depositor on the death of the other, only if, there is a joint mandate from the joint depositors to this effect. The mandate may be given at the time of placing the deposit or at any time subsequently during the tenure of the deposit.

Banks have to ensure that Demand Drafts of Rs.20,000/- and above are invariably issued with account payee crossing.

Interest applicable on domestic savings deposits is to be determined on the basis of end-of-day balance in the account.

A savings or current account would be treated as inoperative / dormant if there are no transactions in the account for a period over two years.

A savings Bank account will be treated as operative when interest on Fixed Deposit(s) is credited to the account based on a mandate from the customer to this effect.

Nomination facility is available for joint accounts also.

Signatures of account-holders in the nomination form need not be attested by witnesses. Thumb impression of the account holder is required to be attested by two witnesses.

KYC done by one branch of a bank should be valid for transfer of the account within the same bank as long as full KYC has been done for the concerned account. The customer should be allowed to transfer his account from one branch to another without restrictions. However, fresh address proof may be obtained upon transfer of the account by the transferee branch (branch to which the account has been transferred).

Validity period of cheques / drafts / banker's cheques has been reduced from six months to three months from the date of the instrument.

Time-limit for resolution of customer complaints, in respect of failed ATM transactions, by the ATM Card-issuing banks is 7 working days from the date of receipt of customer complaint. Accordingly, failure to re-credit the customer's account within 7 working days of receipt of the complaint shall entail payment of compensation to the customer @ Rs. 100/- per day by the ATM Card-issuing bank. A customer is entitled to receive such compensation for delay only if a claim is lodged with the issuing

The number of free transactions permitted per month at ATMs other than those of the ATM Card-issuing bank (currently 5), to Savings Bank account-holders is inclusive of all types of transactions, financial or non-financial.

Banks are required to issue only 'payable at par' / multicity cheques CTS 2010 standard cheques.

No branch should refuse to give an acknowledgement if the customer tenders cheques at the counters.

Cheques returned unpaid should be accompanied by a signed / initialed objection slip on which a definite and valid reason for refusing payment must be stated. Banks are required to indicate the date of return in the cheque return memo

MICR Code & IFS Code are to be made available on pass books / statements of account

Banks are required to invariably offer pass book facility to all its savings bank account holders (individuals).

If the bank offers the facility of sending statement of account and the customer opts for the same, the banks must issue monthly statement of accounts.

Full address and telephone number of the branch / Toll-free number is required to be mentioned in the passbooks / statement of accounts issued to account-holders.

Banks are not permitted to levy foreclosure charges / pre-payment penalties on floating rate home loans.

Banks are mandated to send online alerts to the card-holders for all card related transactions, irrespective of the amount.