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Bsbd News

No Transaction Fee On Basic Savings Bank Deposit (BSBD) SBI Claims

On Tuesday (November 23), the State Bank of India issued a statement in response to a news report published on November 22, 2021, saying that SBI had not reimbursed charges collected from customers on digital transactions between April 2017 and December ...

SBI Collects Rs. 300 Crore From Zero Balance, BSBDA A/c In 5 Yrs: Report

As per a study by the IIT Bombay, various banks including SBI have been levying high charges on some of the services rendered to poor persons maintaining zero-balance or BSBD account. It has been noted that for BSBDA account ...

SBI Tweaks Basic Savings Bank Deposit Rules

In accordance with the recent RBI circular, SBI has fine tuned its basic savings bank deposit (BSBD) policy. On June 10, RBI in its circular stipulated that holders of BSBD account need to be provided with at least 4 withdrawals on ...

Closure Of Saving Bank Accounts Over 1 Yr Old To Attract No Fee: SBI

After reducing the minimum average balance requirement together with penalty for not maintaning it by approximately 20-50% across customers in the metro, urban and rural branches, the state-run lender has with effect from October 1st also waived closure charges levied on ...

SBI MAB Requirements Not For Basic Savings and PMJDY Accounts

The largest public-run lender on Saturday clarified that its monthly average balance or MAB requirements are not for basic savings bank deposit account BSBD and Pradhan Mantri Jan Dhan Yojana or PMJDY. Not adhering to the minimum balance requirements ...