📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    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. 

    Practice Next
    More Financial Markets Questions

    Relevant for Exams:

    ask-question