BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The minimum paid-up equity capital for payments banks shall be
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Rs. 500 crore
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Rs. 100 crore
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Rs. 200 crore
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Rs. 700 crore
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Explanation:
Detailed explanation-1: -The promoter’s minimum initial contribution to the paid-up equity capital of such payments bank shall at least be 40 per cent for the first five years from the commencement of its business.
Detailed explanation-2: -Capital will be needed to buffer against operational risk and also utilised for creation of such fixed assets. Therefore, the minimum paid-up equity capital of the payments bank shall be Rs. 100 crore.
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