- can issue ATM/debit cards but not credit cards.
- will be able to take deposits and remittances, but cannot undertake lending services.
- are permitted for foreign direct investment.
Which of the above statements is/are correct?
All the statements are correct.Kindly note that, payment banks holding are restricted to a maximum balance of Rs 1 lakh per individual customer.It is mandatory for payment banks to hold minimum capital of Rs. 100 crore. FDI of 74 per cent is allowed in payment bank.
This question is a part of GKToday's Integrated IAS General Studies Module