Payment bank licenses - General Economics & Indian Economy

Q.  Which of the following entities were granted in-principle approval to be a payment bank by RBI?

1. IDFC
2. Department of Posts
3. Tech Mahindra Ltd
4. Bandhan bank
5. Vodafone m-pesa Ltd
- Published on 01 Aug 15

a. 1,2,3,5
b. 2,3,5
c. 2,3,4
d. All

ANSWER: 2,3,5
 
Aditya Birla Nuvo Ltd, Airtel M Commerce Services Ltd, Cholamandalam Distribution Services Ltd, Department of Posts, Fino PayTech Ltd, National Securities Depository Ltd, Reliance Industries Ltd, Dilip Shantilal Shanghvi ,Vijay Shekhar Sharma , Tech Mahindra Ltd ,Vodafone m-pesa Ltd are te 11 entities which were granted in-principle approval to be a payment bank by RBI. Bandhan bank and IDFC received licenses to start full-service banks.

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