Payment banks: Functions - General Economics & Indian Economy

Q.  Which of the following statements is/are correct about payment banks?

1. Payment banks can raise deposits of upto Rs. 10 lakh
2. It also pay interest on these balances just like a savings bank account does.
- Published on 01 Aug 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Only 2
 
Payment banks can raise deposits of upto Rs. 1 lakh.

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