Banking · Financial Inclusion & BSBDA Norms
According to RBI guidelines on Basic Savings Bank Deposit Accounts (BSBDA), what is the regulatory requirement regarding existing regular savings accounts and withdrawal limits for a BSBDA holder?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Banks can charge for extra withdrawals beyond four, provided the account is a BSBDA-Small account and other accounts are closed in 15 days.
- 2There is no limit on withdrawals provided the balance stays below ₹50,000, and no other account can be maintained in any bank.
- 3The customer is allowed a maximum of 4 withdrawals in a month including ATM withdrawals and must close any existing regular savings account within 30 days of opening the BSBDA.✓
- 4The bank must close any existing savings account within 45 days, and only 3 free withdrawals are allowed per month.
Correct answer
The customer is allowed a maximum of 4 withdrawals in a month including ATM withdrawals and must close any existing regular savings account within 30 days of opening the BSBDA.
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