Home › Circulars › RBI/2011-12/249

RBI cracks down on banks denying passbooks to savings account holders

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2011-12/249 · issued 04 Nov 2011 · ~2 min read
Quick answerRBI has warned banks against denying passbooks to individual savings account holders who want them. Banks must offer passbook facility or, if the customer opts for a statement, provide monthly statements—all free of charge. Non-compliance will attract regulatory action.

What changed

RBI observed that some banks are not issuing passbooks to individual savings account holders even when customers request them, instead providing only computer-generated account statements. This circular reiterates the existing instruction from October 4, 2006, and directs banks to strictly adhere to it.

What it means for you

Banks must ensure that every individual savings account holder is offered a passbook facility. If a customer chooses a statement of account instead, banks must provide monthly statements at no cost. This reinforces customer choice and prevents banks from unilaterally replacing passbooks with statements, which could disadvantage less tech-savvy customers.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Who it affects

All scheduled commercial banks (excluding Regional Rural Banks), Branch operations teams handling savings account opening, Customer service and compliance departments

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Can we charge customers for issuing a passbook or monthly statement?

No. The circular explicitly states that the cost of providing passbooks or statements should not be charged to the customer.

Does this apply to all savings bank accounts, including those opened online?

Yes, the instruction applies to all individual savings bank account holders, regardless of how the account was opened. Banks must offer the passbook facility or, if the customer opts for a statement, provide monthly statements free of charge.

What if a customer prefers only an online statement and does not want a passbook?

That is acceptable as long as the customer has explicitly chosen the statement option. In such cases, banks must still provide monthly statements free of cost.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1419: DBOD.No.Leg.BC.48/09.07.005/2011-12 — "Customer Service - Non-Issuance of Passbooks to Savings Bank Accountholders (Individuals)" dated November 4, 2011”
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/249 DBOD No. Leg. BC 48 /09.07.005/2011-12 November 4, 2011 All Scheduled Commercial Banks (excluding RRBs) Dear Sir, Customer Service - Non-Issuance of Passbooks to Savings Bank Accountholders (Individuals) Please refer to our circular DBOD. No. Leg.BC.32/09.07.005/2006-07 dated October 4, 2006 on the captioned subject wherein banks were advised to invariably offer pass book facility to all its savings banks account holders (individuals) and in case banks offer the facility of sending statement of account and the customer chooses to get statement of account, banks must issue monthly statement of account. The cost of providing such pass book or statements should not be charged to the customer. 2. It has come to our notice that some banks are not issuing pass books to their savings banks account holders (individuals) and only issue a computer generated account statement even when the customer desires pass book facility. Banks are, therefore, advised to strictly adhere to the instructions contained in the above circular. Yours faithfully, (Deepak Singhal) Chief General Manager-In-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/249 · issued 04 Nov 2011. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6799&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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