1. Objective:- Provide small savings accounts and payments /remittance services to migrant labor workforce.
2. Scope of Activities:- accepts deposits but customer balance should not exceed Rs.1 Lakh & Cannot give loans, but can issue ATM/Debit card but no credit cards.
3. Capital Requirement:- Minimum paid-up equity capital to set-up payment bank is Rs.100 Crore.
(NRIs will not be allowed to open accounts)
# NOTE:- The principle behind payments banks is simple—accelerating the penetration of financial services among low-income consumers by leveraging technology and the large, non-banking retail network without compromising the security of the financial sector.........
No comments:
Post a Comment