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Home Questions & Answers General Knowledge Question Answers The Reserve Bank of India (RBI) has recently allowed 11 business houses to start payment banks. These banks are not permitted to :

    The Reserve Bank of India (RBI) has recently allowed 11 business houses to start payment banks. These banks are not permitted to :

  • offer debit cards/Internet Banking facilities
  • hold a balance of upto INR 1 lakh per individual
  • accept NRI deposits
  • set up branches, ATMs
  • distributed mutual fund insurance products