__________________ “Payment Banks”_____________________
How payment banks am different from regular banks?
Ans:-These banks can only receive deposits and remittances but cannot carry out lending activities. Aiming at financial inclusion, these banks will provide banking services to migrant labourers, low income households, etc.
What is the maximum amount that can be saved under payment bank account?
Ans:- The maximum deposit that a payment bank can accept from an individual customer is Rs 1 lakh.
Can a credit card be issued under this scheme ?
Can a payment bank can issue a debit and ATM cards for easy transactions ?
What is the amount of loan that can be sanctioned by a payment bank ?
Ans:- No Loan facility . The Reserve Bank has clearly stated that a payments bank cannot undertake any lending activity.
Is it safe to save money with a payment bank ?
Ans:- YES. Besides normal “CRR” (Cash Reserve Ratio) to be maintained with the RBI, a payments bank will be required to invest 75% of its demand deposit balances in Statutory Liquidity Ratio (SLR) eligible government securities and treasury bills. Further, a maximum of 25% will have to be held in current and fixed deposits with other scheduled commercial banks.
What is the capital required for opening payments pay ?
Ans:- Rs 100 crore
Who led the committee on Comprehensive Financial Services for Small Businesses and Low Income Households formed in 2013 ?
Ans:- Nackiket Mor
Who all got licenses :
~Aditya Birla Nuvo
~Airtel M Commerce
~Vijay S Sharma of Paytm
~Dilip Shanghvi of Sun Pharma
~Cholamandalam Dist and Depart-ment of Posts.
When the operations are likely to start ?
Ans:- The companies selected will be given “in-principle” approval for 18 months, after which they will be given licences if they fulfil all conditions stipulated by the RBI.
2 Thoughts to “Important Points about Payments Banks”
thank u mam nw i get clarity thank u soo much..
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