The
Reserve Bank of India (RBI) has advised all Scheduled Commercial Banks (SCBs)
on 10.8.2012 to offer a ‘Basic Savings Bank Deposit Account’ and also convert
existing basic banking ‘no-frills’ accounts’ to ‘Basic Savings Bank Deposit
Account’. Such accounts do not have the requirement of any minimum balance and
comes with the facility of ATM Card or ATM-cum-Debit Card. However, the holders
of such accounts are not eligible to open any other savings bank deposit
account in that bank. Under Financial Inclusion, banks have already opened 3.16
crore accounts by March 31, 2012.
This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.
This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.
Source : PIB, 13 Dec, 2012
