IBPS Clerk Mains 2017 Paper

Question : 144 of 178

Marks: +1, -0

Please refer to the Guidelines for Licensing of Payments Banks ('Licensing Guidelines') dated 27th November 2014, under which in-principle approvals/licences were issued to the applicants for setting up of the payments banks. Which of the following is not true about payment Bank?

The minimum paid-up equity capital for payments banks shall be Rs. 100 crore.
Acceptance of demand deposits. Payments bank will
initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer.
Issuance of ATM/debit cards. Payments bank can issue the credit cards.
The promoter's minimum initial contribution to the paidup equity capital of such payments bank shall at least
be 40 per cent for the first five years from the commencement of its business.
The payments bank should have a leverage ratio of not less than 3 percent, that is its outside liabilities should not exceed 33.33 times its net worth (paid-up capital and reserves).

Validate

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