![]() The study further observed that SBI levying a charge of Rs 17.70 for every debit transaction beyond four on BSBD account holders was not “reasonable”. A recent study by IIT-Bombay revealed that the public lender earned over Rs 300 crore through service charges on nearly 12 crore BSBD account holders during 2015-20. However, charges on such accounts seem to be rising. Such accounts help people to start saving without any burden of charges or fees and are primarily aimed at poorer sections of society. WHAT ARE BSBD ACCOUNTS?īasic savings bank deposits or BSBD accounts can be opened by any individual after valid KYC documentation. This, however, will not apply to senior citizens who have been exempted with regard to chequebook services.
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