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Finance Minister Confirms Zero Balance for 720 Million BSBDA Accounts, Offering Major Relief
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Big Relief for 720 Million Account Holders: Zero Balance for BSBDA Accounts Announced
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CNBC Awaaz
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09-03-2026, 19:06
Big Relief for 720 Million Account Holders: Zero Balance for BSBDA Accounts Announced
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Finance Minister announced Basic Savings Bank Deposit Accounts (BSBDA) can be operated as zero-balance accounts.
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No minimum balance requirement for 720 million BSBDA account holders, ensuring free basic banking services.
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Aims to boost financial inclusion, allowing small depositors to access banking without fear of penalties.
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Public sector banks collected ₹8,092.83 crore in MAB charges from 2022-25, a small 0.23% of total income.
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SBI abolished MAB penalty charges in March 2020; 9 other PSBs removed them in 2025, with 2 reducing charges.
Read Full Article on Cnbc in Hindi
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