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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