General Studies · Banking and Financial Institutions
Why do payment banks need to carve out a distinct business segment for themselves in the financial ecosystem?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1In order to entitle themselves for direct lending.
- 2Because payment banks are mandated to push innovation in finance.
- 3Because payment banks are in direct competition with full-service commercial banks.✓
- 4To become a part of the UPI ecosystem.
Correct answer
Because payment banks are in direct competition with full-service commercial banks.
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