Introduction 1. Payment Banks, as per RBI guidelines, are a new category of banks conceptualised to provide efficient banking services to small businesses and low-income households. 2. These banks focus on facilitating financial transactions, including receiving deposits and making payments, but do not undertake lending activities like traditional banks. Maximum Balance: Payment banks are initially
Introduction 1. Payment Banks, as per RBI guidelines, are a new category of banks conceptualised to provide efficient banking services to small businesses and low-income households. 2. These banks focus on facilitating financial transactions, including receiving deposits and making payments, but do not undertake lending activities like traditional banks. Maximum Balance: Payment banks are initially