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TMI BlogBSBD Accounts SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... BSBD Accounts Scheme X X X X Extracts X X X X X X X X Extracts X X X X ..... t of minimum balance. Deposit of cash at bank branch as well as ATMs/Cash Deposit Machines (CDMs) Receipt/ credit of money through any electronic channel or by means of deposit /collection of cheques drawn by Central/State Government agencies and departments No limit on number and value of deposits that can be made in a month Minimum of four withdrawals in a month, including ATM withdrawals ATM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Card or ATM-cum-Debit Card. Further, Banks are free to provide additional value-added services, including issue of cheque book, beyond the above minimum facilities, which may/may not be priced (in non-discriminatory manner) subject to disclosure. The availment of such additional services should be at the option of the customers. However, while offering such additional services, banks shall not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... require the customer to maintain a minimum balance. Offering such additional services would not make it a non-BSBD Account, so long as the prescribed minimum services are provided free of charge. The BSBD Accounts are considered a normal banking service available to all. As informed by banks, conversion of BSBD account into normal savings bank account is allowed only at the written request of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he customer. RBI under Banking Regulation Act, 1949 can impose penalty on banks for non-compliance of any instructions issued by it.
This was stated by Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs in a written reply to a question in Lok Sabha today. X X X X Extracts X X X X X X X X Extracts X X X X
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