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Question

What is the minimum limit of withdrawal that should be allowed by banks in the Basic Savings Bank Deposit Accounts?

A Three times a month Correct Answer Incorrect Answer
B Four times a month Correct Answer Incorrect Answer
C Six times a month Correct Answer Incorrect Answer
D Ten times a month Correct Answer Incorrect Answer
E There is no such minimum criterion Correct Answer Incorrect Answer

Solution

BSBDA Accounts are aimed at promoting financial inclusion in the country. They were earlier known as the “no-frills account” and later all such accounts were converted to the BSBDA Accounts. For such accounts, there is no limit on the number of deposits in a month but there should be at least four withdrawals in a month in such accounts including the ATM withdrawals. An individual can have only one BSBDA account with one bank. 

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