BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following activities cannot be undertaken by a Payments Bank?
|
|
Accept Deposits
|
|
|
Payment of Utility Bills
|
|
|
Lending Money
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -Payment banks cannot issue credit cards. It cannot accept time deposits or NRI deposits. It cannot issue loans.
Detailed explanation-2: -Which of the following activity is restricted for Payments Bank? Explanation: The payments bank cannot undertake lending activities. The payments bank cannot set up subsidiaries to undertake non-banking financial services activities.
Detailed explanation-3: -Notes: Payment banks can issue ATM/debit cards but not credit cards.
There is 1 question to complete.