Question Paper from: IBPS Clerk Mains 2017

Please refer to the Guidelines for Licensing of Payments Banks (‘Licensing Guidelines’) dated 27th November 2014, under which in-principle approvals/ licenses were issued to the applicants for setting up of the payments banks. Which of the following is not true about payment Bank?

The minimum paid-up equity capital for payments banks shall be Rs. 100 crore
Acceptance of demand deposits. Payments bank will initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer.
Issuance of ATM/debit cards. Payments bank can issue the credit cards
The promoter's minimum initial contribution to the paid-up equity capital of such payments bank shall at least be 40 percent for the first five years from the commencement of its business.
The payments bank should have a leverage ratio of not less than 3 percent, that is its outside liabilities should not exceed 33.33 times its net worth (paid-up capital and reserves).
Chapter Name: Banking Awareness

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IBPS Clerk Mains 2017


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