Civil Services UPSC EPFO (APFC) Mock Test 2023 Current Affairs Business and Economy Economic and Financial Affairs
Which among the following is incorrect with respect to Payment Banks and Small Finance Banks in India?
1
Payments Banks can accept deposits but have to keep the customer balance up to two lakh rupees, whereas there is no such restriction on the Small Finance Banks.
2
Payments Banks cannot give loans or issue credit cards whereas Small Finance Banks can.
3
Mobile Companies and Supermarket Chains owned and controlled by residents are allowed to become eligible promoters for Payments Banks but this is not true for Small Finance Banks.
4
Payments Banks cannot sell mutual funds, insurance and pension funds but Small Finance Banks can.