Question

    What is the maximum amount of deposits that can be

    accepted by Payment Banks?
    A Rs.50000 Correct Answer Incorrect Answer
    B Rs.1 lakh Correct Answer Incorrect Answer
    C Rs.1.5 lakh Correct Answer Incorrect Answer
    D Rs.2 lakh Correct Answer Incorrect Answer
    E Payment banks cannot accept deposits Correct Answer Incorrect Answer

    Solution

    The maximum balance a customer can hold in a Payment Bank at the end of the day is  ₹2 lakh  from April 8, 2021 (raised from Rs.1 lakh previously).

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