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Which Payment Bank will shut down its operations within 18 months, which had started its operation on February 22, 2018 ?
  • a)
    Aditya Birla Idea Payments Bank (ABIPBL)
  • b)
    Paytm
  • c)
    Airtel Payments Bank india
  • d)
    Jio Payments Bank india
  • e)
    None of these
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which Payment Bank will shut down its operations within 18 months, whi...
Aditya Birla Idea Payments Bank (ABIPBL) which had started its operation on February 22, 2018, will shut down its operations within 18 months of launch due to “unanticipated developments in the business landscape that have made the economic model unviable”. ABIPBL is a joint venture by Aditya Birla Nuvo Ltd (51% stake) and Idea Cellular (49%).The bank has made full and complete arrangements for the return of deposits to the customers. It will restrict further credit to the accounts from July 26, 2019.It will be the first payments bank to close down after this set of niche banks were started by former Reserve Bank of India governor Raghuram Rajan in 2015.
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Which Payment Bank will shut down its operations within 18 months, which had started its operation on February 22, 2018 ?a)Aditya Birla Idea Payments Bank (ABIPBL)b)Paytmc)Airtel Payments Bank indiad)Jio Payments Bank indiae)None of theseCorrect answer is option 'A'. Can you explain this answer?
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