Nowadays, having a bank account is not only compulsory but also beneficial in many ways. It ensures the safety of all the contents of the account, such as money, jewellery, essential documents, etc. A new facility for bank account holders was introduced by The Reserve Bank of India (RBI), and it is continuously encouraging people to deposit their valuables in bank accounts for security purposes.

A Basic Saving Bank Deposit Account or BSBDA is a…