Banking Exams Exam > Banking Exams Videos > Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi) > What are Payment banks ; Small Finance Bank ; NBFCs and PSL || Banking Series #11 || SBI IBPS Exams
What are Payment banks ; Small Finance Bank ; NBFCs and PSL || Banking Series #11 || SBI IBPS Exams Video Lecture | Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi) - Banking Exams
FAQs on What are Payment banks ; Small Finance Bank ; NBFCs and PSL -- Banking Series #11 -- SBI IBPS Exams Video Lecture - Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi) - Banking Exams
| 1. What is a Payment Bank? |  |
Ans. A Payment Bank is a type of bank that provides a limited range of banking services. These banks can accept deposits and facilitate transactions but cannot lend money or issue credit cards. They mainly focus on providing basic banking services to unbanked and underbanked individuals, such as low-income households and rural communities.
| 2. What is a Small Finance Bank? | |
Ans. A Small Finance Bank is a type of bank that primarily serves the needs of small businesses and low-income individuals. These banks are licensed under the Banking Regulation Act, 1949 and are subject to the same regulations as commercial banks. They offer a wide range of banking services, including deposits, loans, remittances, and insurance, to promote financial inclusion and cater to the needs of underserved sections of society.
| 3. What are NBFCs? | |
Ans. NBFCs, or Non-Banking Financial Companies, are financial institutions that provide banking services without meeting the legal definition of a bank. Unlike banks, NBFCs cannot accept demand deposits but can offer various other financial products and services such as loans, investments, and asset financing. They play a crucial role in providing credit to individuals and businesses, especially those who may not be eligible for bank loans.
| 4. What is PSL in the context of banking? | |
Ans. PSL stands for Priority Sector Lending, which is a key policy of the Reserve Bank of India (RBI). It mandates that a certain percentage of a bank's total lending should be directed towards specific sectors identified as priority sectors. These sectors include agriculture, micro-enterprises, small-scale industries, education, housing, and other segments that require support for economic development. PSL aims to ensure that banks contribute to the inclusive growth of the economy by providing affordable credit to underserved sectors.
| 5. How are Payment Banks different from Small Finance Banks? | |
Ans. Payment Banks and Small Finance Banks differ in terms of their objectives and the services they offer. Payment Banks focus on providing basic banking services, such as deposits and transactions, to underserved individuals and areas. They cannot lend or issue credit cards. On the other hand, Small Finance Banks cater to the needs of small businesses and low-income individuals by offering a wide range of banking services, including loans, remittances, and insurance. They operate as full-fledged banks and are subject to the same regulations as commercial banks.
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Nov 22, 2024 Last updated |
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