Question:
The following are features of a payment banks.Identify the wrong one.
AIt can accept only savings and cuurent deposits.
Bit is not covered by the banking ombudsman scheme
Cit need not issue passbook for the deposit accounts
Dit cannot lend to any person
Answer:
B. it is not covered by the banking ombudsman scheme
Explanation:
It can accept only savings and cuurent deposits. it need not issue passbook for the deposit accounts it cannot lend to any person