Which of the following is not true about Payments Bank?
A. Payments bank can issue ATM/debit cards but not credit cards
B. Initial capital required for a Payments Bank is Rs. 100 crore
C. Payments Bank must maintain Cash Reserve Ration (CRR) as decided by RBI
D. Payments Bank can give a loan of up to only Rs. 1 lakh
Answer: Option D

Join The Discussion