Which of the following activities can be undertaken by a payment bank in India, as per RBI guidelines? (i) Acceptance of demand deposits
(ii) Acceptance of time deposits
(iii) Issue of debit cards
(iv) Issue credit cards
Only (i) and (iii)
The correct answer is option 1. Payment banks in India are allowed to accept demand deposits and issue debit cards, but they cannot accept time deposits or issue credit cards.
Similar Questions
In relation to payment banks, which of the following statements is INCORRECT?
____ was the first payments bank to start its commercial operation in November 2016 on a pilot basis.
Under which scheme are collateral free loans of up to ₹10 Lakh extended by the Member Lending Institutions (MLIs) in India?
The 'Make in India' initiative primarily focuses on which sector?
The real name of Babur, the founder of Mughal dynasty in India was:
Important Questions from Payment and Small Finance Banks
Who is the founder of Grameen Bank?
In relation to payment banks, which of the following statements is INCORRECT?
____ was the first payments bank to start its commercial operation in November 2016 on a pilot basis.
Under which scheme are collateral free loans of up to ₹10 Lakh extended by the Member Lending Institutions (MLIs) in India?
The 'Make in India' initiative primarily focuses on which sector?
