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Discussion

Identify the false statement

  • A.Payments bank cannot accept NRI deposits
  • B.Payments banks cannot issue credit cards
  • C.RBI envisage payments banks to be “virtual” banks or branchless banks.
  • D.A payments bank may choose to become a BC of another bank

Answer: C

RBI does not envisage payments banks to be “virtual” banks or branchless banks.

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