Are Payments Banks Safe? #LLAShorts 175

Payment Panel

Payment Methods

Payments In Installments

What is the maximum limit for payments banks to accept demand deposit per customer?

RBI has mandated that payments banks will be required to invest a minimum …………. % of the deposits collected from the public in government securities with up to 1 year maturity

Iran recently threatened that it will stop supply of oil to India if the payment Issue is NOT sorted out quickly. What is the problem in payment to Iran? a) The oil supplied by Iran is substandard quality. Hence, India suspended the supply and stopped the payment. B) Indian banks have stopped transfer of money to Iran as UN has imposed sanctions on Iran. C) India is bound to purchase oil only from OPEC members. Iran has abandoned the membership of OPEC, which has created a problem in payments.

Which of the following does not fall into the functions of Payments Banks ?