IBPS Clerk Mains 2018 Paper

(a) As per guidelines of the RBI, payments banks canaccept demand deposits - savings and current - up toa maximum of Rs. 1 lakh per customer. To overcomethis restriction of holding a maximum balance of Rs.1 lakh per customer, payments banks have enteredinto tie-ups with mainline banks so that balances overRs. 1 lakh can be converted into fixed deposits withthe latter.