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Question

RBI asked banks to open BSBDA (Basic Savings Bank Deposit Account) a part of the Financial Inclusion plan. How many BSDBA accounts one can open with a bank?

A One Correct Answer Incorrect Answer
B Two Correct Answer Incorrect Answer
C Three Correct Answer Incorrect Answer
D Five Correct Answer Incorrect Answer
E No such restriction Correct Answer Incorrect Answer

Solution

An individual is eligible to have only one 'Basic Savings Bank Deposit Account' in one bank. The services available free in the 'Basic Savings Bank Deposit Account’ will include deposit and withdrawal of cash; receipt / credit of money through electronic payment channels or by means of deposit / collection of cheques at bank branches as well as ATMs. There is no requirement for any initial deposit for opening a BSBDA.

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