Which of the following is true about Payment Banks ........

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Which of the following is true about Payment Banks?

Payment banks are same as Regional Rural Banks.

They will get finance from Mudra Bank along with RBI.

The minimum paid-up equity capital for payments banks shall be Rs. 100 crore.

They are not eligible to issue ATM/ debit cards.

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Explanation:

1st statement is incorrect because Payment banks are not same as RRBs.

2nd statement is incorrect because they will not get finance from Mudra Bank along with RBI.

4th statement is incorrect because Payments banks can issue services like ATM cards, debit cards, net-banking and mobile-banking.

Payments banks is a new model of banks conceptualised by the Reserve Bank of India (RBI). These banks can accept a restricted deposit, which is currently limited to 1 lakh per customer and may be increased further. These banks cannot issue loans and credit cards. Both current account and savings accounts can be operated by such banks.