Home   »   What Are Payment Banks? – Indian...

What Are Payment Banks? – Indian Economy – Free PDF Download

 

PAYMENTS BANK

  • Payments Bank cannot give out Loans on their own but can give out loans through a signed bank as their Agent.
  • Eg: PayTm Payment Bank acts as an agent of Federal Bank, IndusIndian Bank
  • IndiaPost Payment Bank gives house loans through HDFC Bank.
    • Basel-III Norms are applicable
    • Payments Bank can sell Mutual Fund, Pension,Insurance Policies with approval of respective Regulators.

The establishment of ‘Payment Banks’ is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? (Prelims 2016)
1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks.
2. Payment Banks can issue both credit cards and debit cards.
3. Payment Banks cannot undertake lending activities.
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 only
(d) 1, 2 and 3
 
 

 

Indian Economy | Free PDF

 

Sharing is caring!

Download your free content now!

Congratulations!

We have received your details!

We'll share General Studies Study Material on your E-mail Id.

Download your free content now!

We have already received your details!

We'll share General Studies Study Material on your E-mail Id.

Incorrect details? Fill the form again here

General Studies PDF

Thank You, Your details have been submitted we will get back to you.

TOPICS:

Leave a comment

Your email address will not be published.