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Which payment bank has been bared by the RBI from enroling new customers?
  • a)
    Fino Payments Bank
  • b)
    Aditya Birla Payments Bank
  • c)
    Airtel Payment Bank
  • d)
    Geetha Bank Loan Service
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which payment bank has been bared by the RBI from enroling new custome...
Reserve Bank of India observed that a few Fino Payments Bank accounts had deposits in excess of the stipulated amount of Rs1 lakh. According to RBI's operating guidelines for payments banks, a customer can make deposits of up to Rs1 lakh per account in a year. Such banks cannot accept deposits beyond this limit. RBI has imposed similar restrictions on Paytm Payments Bank (on June 20) and Airtel Payments Bank (in January) which are also not able to on-bard new customers.
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Which payment bank has been bared by the RBI from enroling new customers?a)Fino Payments Bankb)Aditya Birla Payments Bankc)Airtel Payment Bankd)Geetha Bank Loan ServiceCorrect answer is option 'A'. Can you explain this answer?
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