Which institution is NOT allowed to lend money?

Question

Payments Banks, regulated by RBI, cannot lend money or issue credit cards. They are allowed to accept deposits up to ₹2 lakh per customer, enable payments, and offer remittance services. Small Finance Banks, Regional Rural Banks, and Public Sector Banks can accept deposits and provide loans in India.

GKToday Admin · Accepted Answer

Payments Bank Payments Banks, regulated by RBI, cannot lend money or issue credit cards. They are allowed to accept deposits up to ₹2 lakh per customer, enable payments, and offer remittance services. Small Finance Banks, Regional Rural Banks, and Public Sector Banks can accept deposits and provide loans in India.

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