The payments bank will be required to use the words ________ in its name in order to differentiate it from other banks.
Answer: B
No answer description available for this question
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What is the maximum balance that any account of payments bank can hold?
Answer: C
Payments bank will initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer.
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As per PSS Act 2007 no person other than the _____ can commence or operate a payment system in India.
Answer: C
In terms of Section 4 of the PSS Act, no person other than the Reserve Bank of India (RBI) can commence or operate a payment system in India unless authorised by RBI.
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Payments Bank are required to invest minimum _____ per cent of its “demand deposit balances” in Government securities/Treasury Bills with maturity up to one year.
Answer: C
The payments bank cannot undertake lending activities. Apart from amounts maintained as Cash Reserve Ratio (CRR) with RBI on its outside demand and time liabilities, it will be required to invest minimum 75 per cent of its “demand deposit balances” in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR) and hold maximum 25 per cent in current and time / fixed deposits with other scheduled commercial banks for operational purposes and liquidity management.
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The Voting Rights in Payment Banks will be regulated by ___ ?
Answer: A
Banking Regulation Act, 1949. The voting rights will be regulated by the Banking Regulation Act, 1949.. The banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949, and will be registered as public limited company under the Companies Act, 2013.
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Payment Bank can sell financial products like mutual fund units and insurance policies.
Answer: A
True. Payments banks cannot give loans or issue credit cards. It can sell financial products like mutual fund units and insurance policies.
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A payments bank is licensed under ______ of Banking Regulation Act, 1949.
Answer: C
The payments bank will be licensed under Section 22 the Banking Regulation Act, 1949 .
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Any shareholder’s voting rights in Payments bank are capped at 10 per cent. This limit can be raised to ___ %
Answer: C
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Which of these payments system is not managed by NPCI?
Answer: C
NEFT managed by RBI
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Identify the false statement
Answer: C
RBI does not envisage payments banks to be “virtual” banks or branchless banks.
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