BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of these entities surrendered their Payments Bank license?
|
|
Cholamandalam Distribution Services
|
|
|
Sun Pharmaceuticals
|
|
|
Tech Mahindra
|
|
|
All of the above
|
Explanation:
Detailed explanation-1: -Bharti Airtel set up India’s first payments bank, Airtel Payments Bank.
Detailed explanation-2: -The Reserve Bank of India (RBI) issues licences to entities to carry on the business of banking and other businesses in which banking companies may engage, as defined and described in Sections 5 (b) and 6 (1) (a) to (o) of the Banking Regulation Act, 1949, respectively.
Detailed explanation-3: -The correct answer is lending money. Payment banks are differentiated banks.
Detailed explanation-4: -Payment banks cannot issue credit cards. It cannot accept time deposits or NRI deposits. It cannot issue loans. It cannot set up subsidiaries to undertake non-banking financial activities.
There is 1 question to complete.