Consider the following statements with respect to the Basic Savings Bank Deposit Account (BSBDA), commonly called ‘No frill’ account : 1. A person can maintain BSBDA with zero balance 2. The BSBDA can be opened by only certain types of individuals like poor and weaker sections of the population 3. The Savings Bank Deposit Interest Rate is applicable to money deposited in the BSBDA account Which among the above is / are correct statements?

Answer: [C] Only 1 & 3

This question is a part of GKToday's Integrated IAS General Studies Module