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      Question

      What is the maximum balance that can be allowed at any

      time in case of the Basic Savings Bank Deposit Accounts?
      A Rs 1 lakh Correct Answer Incorrect Answer
      B Rs 25000 Correct Answer Incorrect Answer
      C Rs 10000 Correct Answer Incorrect Answer
      D Rs 50000 Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      The total credit should not be more than Rs 1 lakh in a year in the BSBDA accounts whereas the maximum balance at any point of time should not be more than Rs 50000. The cash withdrawals and transfers in a month should not be more than Rs 10000 in a month. Foreign remittances will not be allowed in such accounts before completing the normal KYC facilities. These accounts are normally valid for 12 months and can be extended for a period of another 12 months in case the account holder submits the proof regarding application for the KYC documents. 

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