The establishment of ‘Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled, by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.
Options
(a)1 and 2 only
(b)1 and 3 only
(c)2 only
(d)1, 2 and 3
The full breakdown is part of the paid archive
This question's answer, explanation and links to every related question across 48 years (1979–2026) are inside the app. The two most recent years are free to read in full — no account needed.
Independent UPSC previous-year-questions study tool — not affiliated with or endorsed by the UPSC. Question text is reproduced from publicly released UPSC examination papers. UPSCviaPYQs · Privacy · Terms