The establishment of 'Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context 1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.?

1 and 2 only
1 and 3 only
2 only
1, 2 and 3

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : 1 and 3 only

The correct answer is 1 and 3 only.

Eligible to be promoters of Payment Banks:
- Existing non-bank Prepaid Payments Instrument (PPI) issuers,
- NBFCs Corporate Business Correspondents,
- Mobile phone companies, supermarket chains, public sector entities, real sector cooperatives, etc. Hence statement 1 is correct.
Payment Banks can Accept demand deposits.
Payment Banks can Issue ATM/Debit cards, but can’t issue credit cards. Hence statement 2 is incorrect.
As per RBI guidelines, Payment Banks cannot undertake lending activities. Hence statement 3 is correct.

4 views Answered 2022-09-04 04:29

Related Questions

Consider the following statements regarding Financial Stability and Development Council (FSDC). 1. It focuses on financial literacy and financial inclusion. 2. RBI Governor is its chairman. 3. Heads of the financial sector regulatory authorities such as SEBI, IRDA, PFRDA are its members Which of the statement(s) given above is/are correct ?

1 Answers 4 Views

Consider the given statement and decide which of the given assumptions is (are) implicit in the statement. Statement: Raman is drafting complaint mails to the Telephone Exchange for the last 5 months but his issue is still not resolved. Assumptions: I: Raman is facing a telephone issue for at least the last 5 months. II: Every telephone Exchange has a very slow response to complaints.?

1 Answers 4 Views

Which of the following statements with regard to the construction of railways in colonial India by the British companies is/are NOT true 1. The companies were guaranteed a return of 5 percent on their investment by the Government of India. 2. The railways were to be managed mainly by the Government 3. There was no system of preferential freight charges 4. The companies were to get the land free from the Government Select the correct answer using the code given below:?

1 Answers 4 Views

In the context of Indian economy, which of the following is/are the purpose/purposes of 'Statutory Reserve Requirements' 1. To enable the Central Bank to control the amount of advances the banks can create 2. To make the people's deposits with banks safe and liquid 3. To prevent the commercial banks from making excessive profits 4. To force the banks to have sufficient vault cash to meet their day-to-day requirements Select the correct answer using the code given below.?

1 Answers 5 Views

Consider the following statements: The Reserve Bank of India's recent directives relating to 'Storage of Payment System Data', popularly known as data diktat, command the payment system providers that 1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India. 2. they shall ensure that the systems are owned and operated by public sector enterprises 3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year Which of the statements given above is/are correct?

1 Answers 6 Views

Which of the following statements is/are correct 1. Article 15 of the Constitution of India is available to both citizens of India and the foreigners : 2. Article 16 of the Constitution of India is available to the citizens of India only 3. Article 21 of the Constitution of India is available to both citizens of India and the foreigners alike within the territory of India Select the correct answer using the code given below:?

1 Answers 4 Views

Consider the following statements regarding Priority Sector Lending (PSL) 1. At present, all domestic scheduled commercial banks and all foreign banks are required to meet a target of 40 per cent of their Adjusted Net Bank Credit (ANBC) for Priority Sector Lending 2. Regional Rural Banks (RRBs) and Small Finance Banks (SFBs) are required to meet a target of 75 per cent towards PSL Which of the above statements is correct?

1 Answers 4 Views

Which of the following statements relating to election as the President of India is/are correct 1. A person above the age of thirty-five years is eligible for election as the President of India. 2. The President of India is eligible for re-election for more than one term. 3. A person is not eligible for election as the President of India if the person holds an office of profit. Select the correct answer using the code given below:?

1 Answers 4 Views

Which of the following are the features of Pradhan Mantri Jan Dhan Yojana 1. Ensuring financial inclusion of the poor 2. Enhancing financial literacy 3. Provision for accidental insurance to account holders 4. Allowing bank accounts with zero balance Select the correct answer using the code given below:?

1 Answers 4 Views

Which of the following statements with regard to the coverage rate of Aadhar cards during 2015 is/are correct 1) The coverage rate of Aadhar cards in western India is quite high and it is above 90 per cent in Gujarat 2) The coverage rate of Aadhar cards is the highest in southern India and it is almost 100 per cent in the states of Telangana and Andhra Pradesh. 3) The penetration of Aadhar cards has been very low in the northeastern part of India and it is the lowest in Assam and Meghalaya. Select the correct answer using the code given below:?

1 Answers 4 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)