(a) the details of payment banks operational in the country at present;
(b) the details of obstacles that these banks are facing as they are not being allowed to accept deposits and give loans; and
(c) the details of payments banks which opted out of business after their beginning?
THE MINISTER OF STATE FOR FINANCE
(a) to (c): As per inputs received from RBI, the primary objective of setting up of Payments Banks (PBs) is to further financial inclusion by providing small savings accounts and payments / remittance services to migrant labour workforce, 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, and that PBs can accept demand deposits with a deposit balance limit of Rs.1,00,000 for the individual customer but cannot undertake lending activities.
RBI has informed that it has granted banking licence to seven PBs till date, out of which one has voluntarily wound up its operations.
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