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Commerce · Q408

Banking and Financial Institutions

Graduate and Post Graduate · Commerce · question 408

Q408

Which of the following statement/s is/are correct regarding payments banks? 1. Payments banks can accept deposits up to Rs. 5 lakhs under savings and current accounts. 2. Payments banks can issue both credit and debit cards.

A.
1 is correct
B.
2 is correct
C.
1 and 2 is correct
D.
Neither 1 nor 2 is correct
Answer

Answer: Option D

Solution

Answer: Option D
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