Q: What is Objective of Payments Banks?
A:Objective of payments banks is to increase financial inclusion by providing small savings accounts, payment/remittance services to migrant labour, low income households, small businesses, other unorganised sector entities and other users by enabling high volume-low value transactions in deposits and payments/remittance services in a secured technology-driven environment.
Q: Who can promote Payment Bank?
A:Those who can promote a payments banks can be a non-bank PPIs, NBFCs, corporate’s, mobile telephone companies, super market chains, real sector cooperatives companies and public sector entities. Even banks can take equity in Payments Banks.
Q: Can Payment Bank accept deposits?
A: Payments Banks can accept demand deposits (only current account and savings accounts). They would initially be restricted to holding a maximum balance of Rs 100,000 per customer. Based on performance, the RBI could enhance this limit.
Q: What other services Payment Bank can offer?
A: The banks can offer payments and remittance services, issuance of prepaid payment instruments, internet banking, functioning as business correspondent for other banks.
Q: CAN Payment Banks can set up subsidiaries?
A: Payments Banks cannot set up subsidiaries to undertake NBFC business.
Q: How people will be able to differentiate it from other banks?
A:The Payments Banks would be required to use the word ‘Payments’ in its name to differentiate it from other banks.
Q: Whether credit lending is allowed for Payments Banks?
A: No credit lending is allowed for Payments Banks.
Q: Can they invest in Govt securities?
A: The float funds can be parked only in less than one year G-Secs.
Q: List companies got permission to start payment Banks from RBI?
A:11 Companies are as under:
Aditya Birla Nuvo Limited
Airtel M Commerce Services Limited
Cholamandalam Distribution Services Limited
Department of Posts
Fino PayTech Limited
National Securities Depository Limited
Reliance Industries Limited
Shri Dilip Shantilal Shanghvi
Shri Vijay Shekhar Sharma
Tech Mahindra Limited
Vodafone m-pesa Limited.
A:Objective of payments banks is to increase financial inclusion by providing small savings accounts, payment/remittance services to migrant labour, low income households, small businesses, other unorganised sector entities and other users by enabling high volume-low value transactions in deposits and payments/remittance services in a secured technology-driven environment.
Q: Who can promote Payment Bank?
A:Those who can promote a payments banks can be a non-bank PPIs, NBFCs, corporate’s, mobile telephone companies, super market chains, real sector cooperatives companies and public sector entities. Even banks can take equity in Payments Banks.
Q: Can Payment Bank accept deposits?
A: Payments Banks can accept demand deposits (only current account and savings accounts). They would initially be restricted to holding a maximum balance of Rs 100,000 per customer. Based on performance, the RBI could enhance this limit.
Q: What other services Payment Bank can offer?
A: The banks can offer payments and remittance services, issuance of prepaid payment instruments, internet banking, functioning as business correspondent for other banks.
Q: CAN Payment Banks can set up subsidiaries?
A: Payments Banks cannot set up subsidiaries to undertake NBFC business.
Q: How people will be able to differentiate it from other banks?
A:The Payments Banks would be required to use the word ‘Payments’ in its name to differentiate it from other banks.
Q: Whether credit lending is allowed for Payments Banks?
A: No credit lending is allowed for Payments Banks.
Q: Can they invest in Govt securities?
A: The float funds can be parked only in less than one year G-Secs.
Q: List companies got permission to start payment Banks from RBI?
A:11 Companies are as under:
Aditya Birla Nuvo Limited
Airtel M Commerce Services Limited
Cholamandalam Distribution Services Limited
Department of Posts
Fino PayTech Limited
National Securities Depository Limited
Reliance Industries Limited
Shri Dilip Shantilal Shanghvi
Shri Vijay Shekhar Sharma
Tech Mahindra Limited
Vodafone m-pesa Limited.
For written exam/ interview guidance , you may contact:
ANIL AGGARWAL SIR ( P.O. 1982 BATCH)
EX CHIEF MANGER ,PUNJAB NATIONAL BANK.
Mobile: +91 9811340788
E-mail ID: anilakshita@yahoo.co.in
Office: Flat #49, Trilok Apartments, Patparganj, I.P. Extension, Delhi-110092.
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Facebook Page: https://www.facebook.com/AnilAggarwalJobguidancehub
Website: http://bankinterview.in/
KNOW ABOUT MR ANIL AGGARWAL ( P.O. 1982 BATCH):
UNDER ABLE GUIDANCE OF MR ANIL AGGARWAL(09811340788), HUNDREDS OF CANDIDATES ARE ABLE TO GET BANK JOB IN LAST 4 YEARS.
A WELL KNOWN NAME AMONG ASPIRANTS.
PRESENT:
GUEST FACILITY MEMBER TO VARIOUS BANK TRAINING COLLEGES AND MANAGEMENT INSTITUTES.
PROVING GUIDANCE FOR BANK INTERVIEWS/WRITTEN EXAM (SBI/SBI GROUP/IBPS/RRB/PVT SECTOR BANKS/FOR P.O./CLERK/ASSISTANT/TECHNICAL OFFICER/ I.T/HRD OFFICER )
PAST:
HE JOINED PUNJAB NATIONAL BANK AS MANAGEMENT TRAINEE ( P.O.) IN 1982.HEWAS ALSO SELECTED AS P.O. IN STATE BANK OF INDIA,BANK OF BARODA AND UNITED BANK OF INDIA IN 1983, BUT CONTINUED WITH PNB.
HE REACHED THE POSITION OF CHIEF MANAGER IN 2005. HE GOT ALL PROMOTIONS UP TO THIS RANK IN ONE GO.
HE SCORED HIGHEST MARKS IN WRITTEN EXAM OF PROMOTION FROM OFFICER CADRE TO MANGER CADRE IN 1991. HIS SCORE REMAINED UNBROKEN RECORD FOR MANY YEARS
HE RESIGNED FROM THE BANK IN 2012 AFTER SERVING 30 YEARS IN VARIOUS CAPACITIES IN PUNJAB NATIONAL BANK.
HE HAS RICH BANKING EXPERIENCE.
HE WAS MEMBER OF VARIOUS INTERVIEW BOARDS MEANT FOR INTERNAL PROMOTIONS.
HE WAS ONE OF THE MOST RENOWNED FACULTY MEMBER OF PUNJAB NATIONAL BANK DURING 1986 TO 1991.
FOR, INDIAN INSTITUTE OF BANKERS, DELHI CHAPTER, HE CONDUCTED CLASSES OF BANKING LAW AND PRACTICE PART TWO OF CAIIB DURING 1988 to 1997.
HE WAS AWARDED BY VARIOUS INSTITUTIONS WE LIST A FEW:
*BEST FACULTY MEMBER AWARD BY BANKER'S TRAINING COLLEGE , RBI- 1986
*BEST BRANCH MANAGER AWARD BY PUNJAB NATIONAL BANK -1991
*BEST BRANCH MANAGER AWARD BY PUNJAB NATIONAL BANK - 2007
*BEST CHIEF MANAGER MARKETING IN PUNJAB NATIONAL BANK -2007 ,2008,2009 AND 2010.
ACADEMIC & PROFESSIONAL QUALIFICATION
M.Sc Physics
CAIIB FROM INDIAN INSTITUTE OF BANKERS
POST DIPLOMA IN BUSINESS MANAGEMENT FROM THE INSTITUTE OF CHARTERED FINANCIAL ANALYSTS OF INDIA
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