BSBDA (BASIC SAVING BANK DEPOSIT) Under the guidelines issued on August 10, 2012 by RBI: Any individual, including poor or those from weaker section of the society, can open zero balance account in any bank. BSBDA guidelines are applicable to all scheduled commercial banks in India, including foreign banks having branches in India. All the accounts opened earlier as no-frills account should be renamed as BSBDA. Banks are required to convert the existing no-frills accounts’ into Basic Savings Bank Deposit Accounts. The Basic Savings Bank Deposit Account should be considered as a normal banking service available to all customers, through branches. The aim of introducing Basic Savings Bank Deposit Account is very much part of the efforts of RBI for furthering Financial Inclusion objectives. https://facebook/examwinner
Posted on: Tue, 02 Sep 2014 06:47:54 +0000
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