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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 β‚Ή1 lakh per individual customer. This limitation is imposed to ensure the safety of deposits and to prevent systemic risks.

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