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Discussion

A Payments Bank is licensed under which Act?

  • A.Reserve Bank of India Act, 1934
  • B.Banking Regulation Act, 1949
  • C.Companies Act, 1956
  • D.Payment and Settlement Systems Act, 2007

Answer: B

It will be registered as a public limited company under the Companies Act, 2013, and licensed under the Banking Regulation Act, 1949

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