Economics · Economy
Consider the following statements regarding Payments Banks: Statement I: Payments Banks are allowed to undertake lending activities such as providing loans and issuing credit cards to promote financial inclusion. Statement II: Payments Banks were established based on the recommendations of the Nachiket Mor Committee to advance financial inclusion. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.✓
- 2Statement I is correct, but Statement II is incorrect.
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
Correct answer
Statement I is incorrect, but Statement II is correct.
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