Which of the following is not true about Payments Bank?
1
Payments bank can issue ATM/debit cards but not credit cards
2
Initial capital required for a Payments Bank is Rs 100 crore
3
Payments Bank must maintain Cash Reserve Ration (CRR) as decided by RBI
4
Payments Bank can give a loan of up to only Rs 1 lakh
5
Payments Bank can enable transfers and remittances through a mobile phone.