BSBDA account means Basic Savings Bank Deposit Account. According to RBI rules, there are many types of discounts in this account. This is a zero balance account, which can be opened by anyone.
In an alert report from a Bombay High Court on 11 April of last month, it was revealed that the country’s largest public sector banks and some big banks are making big money in the name of services from the account of the poor. In fact, banks like PNB, SBI are charging for withdrawals on BSBDA account more than four times. Now after about a month, the country’s largest bank has officially announced that BSBDA account holders will be able to withdraw only 4 times free from their accounts. For every subsequent withdrawal, a fee of 15 rupees plus GST will have to be paid.
According to Live Mint report, basic savings account holders will now be able to withdraw cash from a branch or ATM only 4 times a month at no charge. After this, whether these account holders withdraw from SBI ATM or from non-SBI branch, they have to pay a charge of Rs 15 plus GST. These rules will come into effect from July 1.
What is BSBD Account?
BSBDA account means Basic Savings Bank Deposit Account. According to RBI rules, there are many types of discounts in this account. This is a zero balance account, which can be opened by anyone. There is no hassle of keeping minimum balance in it. The most important thing about this account is that it can be used to withdraw cash from bank or ATM, internet banking, fund transfer, check from central and state government, etc. All these services are free.
SBI earned 308 crores
According to the report of IIT Bombay, the number of BSBD account holders with SBI is about 12 crores. From which the bank has raised Rs 9.9 crore in the name of services. Actually, these banks deduct a small amount from small accounts of people. A report by IIT Bombay says that the country’s largest bank has recovered the entire 308 crore from its 12 crore BSBD account holders in the name of service. The bank has recovered 308 crores in 6 years.
