question_answer

Which of the following statements is/are correct about Basic Savings Bank Deposit Account?

I. It has been introduced by RBI with an aim to promote financial inclusion.

II. It allows opening of a bank account with Rs. 500 as minimum balance.

III. All the existing 'No-frills' accounts opened by the banks are converted into BSBDA.

A)  I only                          

B)  I and III

C)  II and III          

D)  I, II and III

E)  None of these