A deeper investigation suggests he is not wrong. For instance, the Basic Savings Bank Deposit Account was a no minimum-balance service with all facilities of a normal account except that withdrawals were limited to four a month, according to a RBI circular dated August 17, 2012. The accounts came with an ATM-cum-debit card as well. Under the Pradhan Mantri Jan Dhan Yojana, launched on August 28, 2014, an accident insurance cover of Rs 1 lakh, overdraft facility up to Rs 5,000 after six months and a life insurance of Rs 30,000 were added to the BSBDA accounts. Here is a longer list:
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