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    Question

    Which payment bank was the first entity in India to

    receive a payment bank license from the Reserve Bank of India.
    A Paytm payments bank Correct Answer Incorrect Answer
    B NSDL payments bank Correct Answer Incorrect Answer
    C Airtel Payments bank Correct Answer Incorrect Answer
    D Fino Payments bank Correct Answer Incorrect Answer
    E Jio Payments Bank Correct Answer Incorrect Answer

    Solution

    Payment banks in India, a type of differentiated bank, emerged from the recommendations of the Nachiket Mor Committee in 2013, with the aim of expanding financial inclusion by providing basic banking services to underserved populations. In 2016, Airtel Payments Bank became the first company to receive the Payments Bank license from the Reserve Bank of India. 

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