Question 15
MediumOriginal questionWhich of these is a payments bank NOT allowed to do?
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
Payments banks were licensed from 2015 to bring deposits and payments to people outside the banking system.
They may take deposits up to a limit set by the RBI and issue debit cards, but they may not lend or issue credit cards.
- Concept
- What a payments bank may do
- Typical timeTypical
- 50 s
- Your timeYours
- —
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