Question
Which of the following statement is not correct about
Payments Bank?Solution
Payments bank is a new model of banks conceptualized by the Reserve Bank of India (RBI). These banks can accept a restricted deposit, which is currently limited to ₹2 lakh per customer. These banks may not issue loans or credit cards, but may offer both current and savings accounts. Payments banks may issue ATM and debit cards, and offer net-banking and mobile-banking. The draft guidelines for licensing of payments banks in the private sector were formulated and released for public comments on 17 July 2014. The banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949, and will be registered as public limited company under the Companies Act, 2013.
Any security provided to the bank in exchange for a loan is known as ______.
How many pilgrims have visited the Gangasagar Mela as reported recently (Jan 2025)?
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According to the data provided by the Centre for Monitoring Indian Economy ,all India unemployment rate remained elevated in February 2023 and rose to__...
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The ‘Ease of Doing Business Index’ is a ranking system established by which organisation?
What was the approximate value of total UPI transactions processed in September 2024?
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