Q. With reference to Small Finance Banks and Payment Banks in India, consider the following statements:

1. The minimum capital requirement for Small Finance Banks is Rs. 500 crore, while for Payment Banks it is Rs. 100 crore.
2. Payment Banks are intended to provide payment solutions, whereas Small Finance Banks are aimed at encouraging savings among the lower strata of society.

Select the correct option from the codes given below:
Answer: Only 2
Notes: Both Payment Banks and Small Finance Banks have a minimum capital requirement of Rs. 100 crore. Payment Banks are established primarily to facilitate payment and remittance services, while Small Finance Banks focus on financial inclusion and encouraging savings among low-income segments. Hence, only statement 2 is correct; statement 1 is incorrect.