Question

Payment Banks in India are prohibited from performing

Q: Answer-Payment Banks in India are prohibited from performing which of the following activities?

Payment Banks are restricted to hold a maximum balance of 1 lakh per individual customer. This limitation is imposed to ensure the safety of deposits and to prevent systemic risks.

which of the following activities?

A Accepting deposits

B Providing remittance services

C Issuing debit cards

D Distributing mutual funds

E Extending loans and advances

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Relevant for Exams:

RBI Grade B

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Payment Banks in India are prohibited from performing

Solution

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