In a list of frequently asked questions issued by the central bank, it said basic savings bank deposit account guidelines were applicable to ‘all scheduled commercial banks in India, including foreign banks having branches in India’.
Under the BSBDA scheme, any individual, including those from weaker sections of society, can open zero-balance accounts in any bank.
Withdrawals from such accounts, which don’t have a mandatory minimum balance and a cap on the deposits, are capped at four a month, including withdrawals through automated teller machines.
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