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Payments banks are a new model of banks ...

Payments banks are a new model of banks conceptualized by the Reserve Bank of India (RBI). These banks can accept a restricted deposit which is currently limited to INR 1 lakh per customer account. How much amount minimum capital has requirement for Payments banks?

A

Rs. 1 crore

B

Rs. 50 crore

C

Rs. 100 crore

D

Rs. 500 crore

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Verified by Experts

The correct Answer is:
D
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