BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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20%
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30%
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40%
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60%
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Detailed explanation-1: -It needs to have a minimum paid-up capital of Rs. 100, 00, 00, 000. Minimum initial contribution of the promoter to the Payment Bank to the paid-up equity capital shall at least be 40% for the first five years from the commencement of its business.
Detailed explanation-2: -Therefore, no maximum shareholding limit for promoters is prescribed. However, the promoters of the payments bank should hold at least 40 per cent of its paid-up equity capital for the first five years from the commencement of its business.
Detailed explanation-3: -The minimum required paid-up equity capital for opening a payment bank according to RBI is Rs 100 crore. Also, for the first five years of commencement of establishment, the promoter must contribute at least 40% of the paid up equity capital.
Detailed explanation-4: -The promoter’s minimum contribution of 40 per cent of paid-up equity capital shall be locked in for a period of five years from the date of commencement of business of the bank.