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    Question

    Payment Banks in India are prohibited from performing

    which of the following activities?
    A Accepting deposits Correct Answer Incorrect Answer
    B Providing remittance services Correct Answer Incorrect Answer
    C Issuing debit cards Correct Answer Incorrect Answer
    D Distributing mutual funds Correct Answer Incorrect Answer
    E Extending loans and advances Correct Answer Incorrect Answer

    Solution

    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.

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