Discussion

Consider the following statements

1. A payments bank will not be allowed to lend and will invest 75 percent of funds in government securities.
2. Its main focus is to offer remittance services and simple financial products.
3. The minimum capital requirement is set at Rs 100 crore.
4. It will be allowed to accept savings deposits up to Rs 1 lakh a customer.

Which of the above statements is/are correct?