What is BSBDA Account?
Ans. Basic Savings Bank Deposit Account (BSBDA) has been defined by RBI vide its circular dated 10.08.2012. Its salient features are: • There is no requirement of minimum balance. • The services available include deposit and withdrawal of cash at bank branch as well as ATMs; receipt/credit of money through electronic payment channels or by means of collection/deposit of cheques. • Maximum of 4 withdrawals a month including ATM withdrawal. No such limit for deposits. • Facility of ATM card or ATM-cum-Debit card. • These facilities are to be provided without any extracost.
The accounts opened under the Pradhan Mantri Jan Dhan Yojana is a BSDA account.
. (contents from the government site at pmjdy.gov.in)
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