Financial Awareness - Risk, Stability & Emerging Finance
Which of the following is NOT a function of Payment Banks in India?
Which of the following is NOT a function of Payment Banks in India?
easy Q2 of 15
Step-by-Step Solution
Step 1: Understand Payment Banks functions
Payment Banks can accept deposits, issue debit cards, and facilitate remittances but are restricted from lending activities.Step 2: Analyze options
Providing loans and advances is NOT allowed for Payment Banks. The other options are valid functions.Final Answer:
Providing loans and advances → Option BQuick Check:
Payment Banks lending = Not allowed ✅
Quick Trick: Payment Banks = No lending, only deposits and payments.
Common Mistakes:
- Assuming Payment Banks provide credit facilities like regular banks.
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