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    Question

    According to extant RBI guidelines, ‘Payment Banks’

    are not permitted to—
    A set up branches or ATMs Correct Answer Incorrect Answer
    B accept remittances to be sent to multiple banks Correct Answer Incorrect Answer
    C distribute mutual fund/insurance/pension products Correct Answer Incorrect Answer
    D set up subsidiaries to undertake NBFC activities Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    According to extant RBI guidelines, Payment Banks are not permitted to set up subsidiaries to undertake NBFC activities.

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