Question
Under the Pradhan Mantri Jan Dhan Yojna, a BSBD account
can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account. What does “S” stand for in BSBD Account?Solution
Launched in 2014 and aims to provide universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension. Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.
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