BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ATM
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Debit cards
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credit cards
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Both A and C
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Detailed explanation-1: -Definition: A payments bank is like any other bank, but operating on a smaller scale without involving any credit risk. In simple words, it can carry out most banking operations but can’t advance loans or issue credit cards.
Detailed explanation-2: -No, small finance banks cannot issue credit cards but they are allowed to issue debit cards.
Detailed explanation-3: -Issuance of ATM / Debit Cards. Payments banks, however, cannot issue credit cards.
Detailed explanation-4: -Payments bank comes under a differentiated bank licence since it cannot offer all the services that a commercial bank offers. In particular, a payments bank cannot lend. It can take deposits upto ₹1 lakh per account and it can issue debit cards but not credit cards.
Detailed explanation-5: -Payments banks can issue ATM cards or debit cards and provide online or mobile banking.