Economics · Banking System in India
Which of the following statements is correct regarding Payments Banks in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Payments banks cannot set up subsidiaries to undertake non-banking financial services activities.✓
- 2The minimum paid-up equity capital of payments banks shall be Rs. 10 crore.
- 3Payments banks undertake lending activities for special sectors.
- 4Payments banks can issue both debit and credit cards.
Correct answer
Payments banks cannot set up subsidiaries to undertake non-banking financial services activities.
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