1).Fullform of BSBDA ?
Ans-Basic Saving Bank Deposit Account
2. Aim of Introducing BSBDA ?
Ans- Financial Inclusion
3). No of Withdrawals free of charge through ATM's in BSBDA ?
Ans- 4 Withdrawals
4). Total Credits should not exceed in BSBDA?
Ans- 1,00,000 Rs ( in a year)
5). Maximum balance should not exceed in Account ?
Ans- 50,000 Rs (at any time)
6). Total Debits of cash withdrawal or transfer should not exceed in a month ?
Ans- 10,000 Rs
7).Validity of Basic Saving Bank Deposit Account?
Ans- 12 months ( later extended by another 12 months after providing proof of Officially Valid Document by a person)
8). Other Names of BSBDA ?
Ans- Small Accounts and Zero Balance Account
9). Foreign Remittances cannot be Credited to BSBDA without___
Ans- Completing Normal KYC Formalities
10). Guidelines issued by RBI for BSBDA on which date?
Ans- August 10, 2012
11) In Basic Saving Bank Deposit Account___
Ans- One can have Term/Fixed Deposit, Recurring Deposits etc accounts in the bank
12). Limit on the number no of deposits in BSBDA
Ans- There is no limit on the number no of deposits in BSBDA
13).If a customer has any other existing savings bank deposit account in that bank, he/she will be required to close it within____
Ans- 30 days from the date of opening a ‘Basic Savings Bank Deposit Account’.
14). Previously BSBDA was known as?
Ans- No Frill Accounts
15) Whether Foreign Banks in India are also required to open BSBDA for customers?
Ans-BSBDA is applicable to all scheduled commercial banks in India including foreign banks having branches in India.
16) Whether passbooks are also to be offered free to BSBDA holders?
Ans-Yes. BSBDA holders should be offered passbook facility free of charge.
17)If a customer of BSBDA agrees not to have ATM Debit card should the bank give ATM debit card by force?
Ans-ATM debit cards may be offered at the time of opening BSBDA and issued if the customer requests for the same in writing. Banks need not force ATM debit cards on such customers.
18) Whether balance enquiry in ATMs also should be counted within the four withdrawals permitted under BSBDA?
Ans-Balance enquiry through ATMs should not be counted in the four withdrawals allowed free of charge at ATMs.
19) Is there requirement of any initial minimum deposit while opening a BSBDA?
Ans-There is no requirement for any initial deposit for opening a BSBDA.
20) Are the banks free to levy annual ATM debit card charges?
Ans-Banks should offer the ATM debit cards free of charge and no annual fee should be levied on such cards.