Social bank accounts and deposits: advantages and disadvantages

The article provides a comprehensive analysis of the legislative introduction of social bank accounts and deposits in the Russian Federation to support low-income citizens. Based on Federal Law № 202-FL of July 22, 2024, the advantages and risks for key stakeholders are examined: the state, the Bank of Russia, commercial banks and the population. Particular attention is paid to the systematization of effects, including the absence of direct budget expenditures, risks of financial inequality, limited contribution to monetary policy, increased operating costs of banks, as well as the impact on financial literacy and behavior of citizens. Despite the identified problems, significant positive potential of the initiative and its compliance with the trend of socialization of the banking sector are noted.