Which of the following became the third entity to receive a final license from the Central Bank to start its payment bank operations.

2017

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	SBI
B	Vodafone
C	Flipkart
D	India Post

Explanation:

Detailed explanation-1: -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-2: -Q. Who headed the committee to evaluate the license applications for Payment banks? Notes: In 2015, RBI formed an external advisory committee (EAC) headed by Nachiket Mor would evaluate the license applications. Total 41 applicants had applied for the license.

Detailed explanation-3: -Ans. The PSS Act, 2007 provides for the regulation and supervision of payment systems in India and designates the Reserve Bank of India (Reserve Bank) as the authority for that purpose and all related matters.

There is 1 question to complete.