New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Register

    Question

    Under the Pradhan Mantri Jan Dhan Yojna, a BSBD account

    can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account. What does “S” stand for in BSBD Account?
    A Swift Correct Answer Incorrect Answer
    B Savings Correct Answer Incorrect Answer
    C Secure Correct Answer Incorrect Answer
    D Surety Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Launched in 2014 and aims to provide universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension. Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.

    Practice Next