Who among the following is the chairman of the External Advisory Committee (EAC) set up by RBI to evaluate application received for Payment banks?
[D]H R Khan
Nachiket Mor, Director, Central Board of the Reserve Bank will be the chairman of the EAC for payment banks. According to the guidelines issued by RBI, payment banks can accept demand deposits subject to a cap of Rs 1 lakh a customer and provide payment and remittance services through channels such as internet, branches, business correspondents and mobile banking. They, however, cannot offer credit facilities directly but can act as an agent of a commercial bank for credit and other services.