📱 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Which of the following type of banks are not allowed

    to give loans?
    A Rural Cooperative Bank Correct Answer Incorrect Answer
    B Urban Cooperative Banks Correct Answer Incorrect Answer
    C Local Area Bank Correct Answer Incorrect Answer
    D Regional Rural Bank Correct Answer Incorrect Answer
    E Payment Bank Correct Answer Incorrect Answer

    Solution

    Payment Bank licences are granted by RBI to make basic banking facilities available to unbanked/Under-banked section of the population. Payment banks can accept deposits of upto Rs 1 lakh and can do remittance. They are not allowed to give any kind of loans. 

    Practice Next
    More Economy and Banking and Finance Static Concepts Questions

    Relevant for Exams:

    ask-question