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      Question

      Payment Banks can accept deposits upto ___________per

      account from individuals and small businesses.
      A 2 lakh Correct Answer Incorrect Answer
      B 3 lakh Correct Answer Incorrect Answer
      C 1 lakh Correct Answer Incorrect Answer
      D 50000 Correct Answer Incorrect Answer
      E 30000 Correct Answer Incorrect Answer

      Solution

      Payments banks can accept deposits up to Rs. 1 lakh per account from individuals and small businesses. They can issue ATM/debit cards but not credit cards. They can also issue other prepaid payment instruments and can distribute non-risk sharing simple financial products like mutual funds and insurance products.

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