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