Payment banks are those which undertake restricted banking functions.; This Functions can be like issuing debit cards, offering internet banking, but cannot offer loans or credit cards.; The banks can only accept deposits of up to INR 1 lakh per account.;
Payment banks are those which undertake restricted banking functions.
This Functions can be like issuing debit cards, offering internet banking, but cannot offer loans or credit cards.
The banks can only accept deposits of up to INR 1 lakh per account.
RBI issued guidelines on payments banks in 2014 and first of such bank is opened by Airtel.